R Deenan v. Indian Bank
Case brief
What is this about?
The Debts Recovery Tribunal dismissed the SARFAESI application challenging the bank's sale notice for recovering an educational loan. The court held that the bank had followed the statutory procedure.
What did the court decide?
The SARFAESI application was dismissed without costs; all interim orders were vacated and IA's were closed.
What the court decided
1
SA No. 89 of 2023
21.05.2024
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 21st day of May, 2024
Present: Shri Ganapathi K.R.K. Presiding Officer
SARFAESI APPLICATION No. 89 of 2023
R. Dheenan, Son of Ranganathan, No. 1, Chinnapet, Mannadipet, Mannadipet Commune, Puducherry – 605 501. ….Applicant
-Vs-
The Authorized Officer, Indian Bank, Tirukkanoor Branch, R.S. No. 110/8 F Saraswathy Nagar, Thirukkanoor – 605 501, Puducherry.
...Respondent
Counsels on record / appeared:
Issues for consideration
2 issues framed by the court
Whether the SARFAESI actions by the bank in issuing the sale notice for recovery of an educational loan are maintainable.
Whether the delay in repayment due to delayed course completion and lack of employment invalidates the bank's procedure under SARFAESI.
Parties & counsel
- applicant
R. Dheenan
- respondent
The Authorized Officer, Indian Bank, Tirukkanoor Branch
Coram
Shri Ganapathi K.R.K.
Case details
As recorded by the court registry
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