The Tribunal allowed maintenance petitions to condone delays in filing restoration and substitution petitions, allowing the assignee ARCI to continue the trial of the transfer application originally dismissed for default.
MAs 264/25, 265/25, 266/25 & 267/25 allowed; Applicant directed to carry out amendment and file amended copy of TA.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
MAs 264/25 to 267/25 in TA No.1581/2023
03.10.2025
1
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 03rd day of October, 2025
Present: SMT. S.V. GOWRAMMA Presiding Officer
M.A. Nos.264/25, 265/25, 266/25 & 267/25
in
T.A. No.1581 of 2023
Chennai – 600 018. Rep. by its Authorised Officer
……Petitioner /
Proposed Applicant
No.3, Plot No.780, Munuswamy Salai K K Nagar, Chennai – 600 078 ….Applicant
-Vs-
Poonamalle Taluk, Tiruvallur – 600 123
Poonamallee Taluk, Tiruvallur – 600 123
MAs 264/25 to 267/25 in TA No.1581/2023
03.10.2025
2
Counsels on record / appeared:
Counsel for Petitioner : M/s L. Surya Associates
MAs 264/25 to 267/25 in TA No.1581/2023
3
03.10.2025
Limited) which was subsequently transferred to this Tribunal and renumbered as TA No.1581/2023. During the pendency of OA, the applicant bank has assigned the debts to M/s Asset Reconstruction Company (India) Limited vide Assignment Agreement dated 23.12.2022.
Vilas Bank Limited, which was merged with DBS Bank India Limited by way of an Assignment Agreement bearing Document No.104 / 2022 dated 23.12.2022.
counsel was engaged and steps were taken to file necessary petitions. Hence the delay has occurred, which is neither willful nor wanton but
MAs 264/25 to 267/25 in TA No.1581/2023
03.10.2025
4
only due to the aforesaid reason. Thus submitting, counsel prayed for condonation of delay in filing restoration petition, restoration of TA, condonation of delay in filing substitution petition and for substitution of proposed applicant in place of assignor bank.
Heard the counsel for petitioner and perused the records
of the case .
MAs 264/25 to 267/25 in TA No.1581/2023
03.10.2025
5
Vs.- K.J. Sakadeva Raja reported in LAWS (MAD)-2020-8-441 feels
it apt to condone the delay and restore the OA and give last opportunity to applicant to permit the assignee to continue the TA in place of assignor bank, as per the Assignment Agreement.
Sd/(S.V. GOWRAMMA) PRESIDING OFFICER, DRT-III, CHENNAI
(Dictated to PS, transcribed by her, corrected, signed and pronounced by me on this the 03rd day of October, 2025)
2 issues framed by the court
Whether to condone delay in filing restoration and substitution petitions regarding an assigned debt.
Whether to permit an Asset Reconstruction Company as assignee to continue the trial abandoned by the assignor.
Colour shows how this judgement treated each authority
V.P. Rajula Vs. K.J. Sakadeva RajaRelied on¶7
V.P. Rajula Vs.- K.J. Sakadeva Raja reported in LAWS (MAD)-2020-8-441
M/s Asset Reconstruction Company (India) Ltd.
DBS Bank
M/s BR Jewellers
Mr. L. Bhiyaram
Mr. D. Nemichand Seervi
Mr. L. Munnaram
S.V. Gowramma
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
