The Tribunal dismissed an application challenging a sale notice issued by a bank under the SARFAESI Act. The court held that the applicant failed to establish bonafides for a stay and raised no tenable challenges to the bank's procedure.
SARFAESI Application stands dismissed without costs.
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SA No. 512 of 2023
25.03.2024
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 25th day of March, 2024
Present: Shri Ganapathi K.R.K. Presiding Officer
SARFAESI APPLICATION No. 512 of 2023
Mrs. M. Subhathra, W/o Late Mohan, Plot No.10, New Door No.24/2, Old Door No.15, Varadharajpet Main Road, Kodambakkam, Choolaimedu, Puliyur Village, Behind Meenatchi College, Chennai - 600 024.
....Applicant
-Vs-
Counsels on record / appeared:
Counsel for Applicant : M/s. A. Parveen Counsel for Respondent : M/s. Suresh Law Associates
ORDER
SA No. 512 of 2023
25.03.2024
(Dictated to Stenographer, transcribed by her, corrected, signed and pronounced by me in Open Court, on this the 25TH day of March, 2024).
Sd/- (GANAPATHI K.R.K) PRESIDING OFFICER
2 issues framed by the court
Whether the applicant established any bonafides to warrant a stay on sale of property under SARFAESI Act.
Whether the applicant pointed out any tenable infirmities in the procedure adopted by the bank.
1 provisions across 1 enactments
Mrs. M. Subhathra
The Authorised Officer, State Bank of India, RACPA Tambaram
The Authorised Officer, State Bank of India, Centralized Retail Assets Monitoring cell
Ganapathi K.R.K.
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
