Partly allowed

K Mathivanan v. Nido Home Finance Limited

DRT7 Oct 2024SA/678/2024

Case brief

AI extract

What is this about?

Sarfaesi application by a tenant challenging a bank's possession order based on an unregistered lease was declared not maintainable. However, the Tribunal stayed possession until November 30, 2024, pending an undertaking to vacate.

What did the court decide?

The application was held not maintainable, but possession of the property is deferred till 30.11.2024 provided an undertaking to quit and deliver vacant possession is filed.

K Mathivanan versus Nido Home Finance Limited — Banking and Recovery | DRT (2024)

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SA No. 678 of 2024 (C)

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07.10.2024

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IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

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Dated this the 07^th day of October, 2024

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Present: SHRI A. S. JAYACHANDRA Presiding Officer (In – charge)

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SARFAESI APPLICATION No.678 of 2024

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K. Mathivanan, S/o. Kaatandi, No. 38, Raja Shanmugm Nagar, 9^th Street, Thiruvottiyur, Chennai – 600 019.

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….Applicant

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-Vs-

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The Authorized Officer, Nido Home Finance Ltd., Formerly Known as Edelweiss House Finance Ltd (EHFL)

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No. 19, 7^th Floor, Kochar Towers,

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Venkatanarayan Road, T. Nagar, Chennai – 600 017.

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Ramya. R, W/o. Karthick, No. 12 B, Vishwash Avenue , North Mada Street, Thiruvottiyur, Chennai – 600 019.

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Karthick. S

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No. 12 B, Vishwash Avenue , North Mada Street, Thiruvottiyur, Chennai – 600 019. ….Defendants

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Counsels on record / appeared:

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Counsel for Applicant : M/s. A. Vennila Counsel for Respondent : M/s. S.K. Matiyappan None for D-2 and D-3

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SA No. 678 of 2024 (C)

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07.10.2024

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PROCEEDINGS DATED 07.10.2024

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Heard the Ld. Counsel for the applicant.

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The applicant claims to the tenant under D2 & D3. Considering the peculiarity of the case, notices dispensed to D2 & D3. D1 is the bank, which is not yet summoned. However, the Counsel appears and files vakalathnama.

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The applicant is aggrieved by the Orders of the Ld. CJM, Tiruvallur dated 11.09.2024 in Crl. MP/7989/2024. The said order is obtained by D1 against D2 & D3, who had defaulted the loan amount after creating the security interest in the property, of which, one portion is under the occupation of the present applicant.

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The lease deed dated 19.07.2021 is unregistered. Since the unregistered is lease holder cannot agitate any rights nor interfere in the matters where the security interest created, in view of Hemraj Ratnakar Salian Vs. HDFC Bank Ltd., and Ors, reported in 2021 SCC online SC 611 , the present petition is not maintainable. Hence, the following

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ORDER

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SA stands disposed of as not maintainable. However, considering the difficulties in re-locating, as urged by the Ld. counsel, it is hereby directed that the D1 shall defer taking the possession of the property till 30.11.2024 provided the applicant filing an undertaking to quit and deliver the vacant possession of the property mentioned in the SA on or before 30.11.2024.

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SA No. 678 of 2024 (C)

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¶31

07.10.2024

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If no undertaking is filed, the defendant bank may proceed further. However, in any event, the defendant bank is entitled to recover the possession after 30.11.2024 by executing the warrants already obtained. Thus, SA stands disposed.

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Copies be sent to the parties as per rules.

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Sd/(A S. JAYACHANDRA)

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PRESIDING OFFICER (In-charge)

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(Dictated to Steno, who typed in the system, corrected, signed and pronounced in Open Court, on this 07^th day of October, 2024)

K Mathivanan v. Nido Home Finance Limited

Case brief

What is this about?

What did the court decide?

K Mathivanan v. Nido Home Finance Limited

Case brief

What is this about?

What did the court decide?

What the court decided

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