Applicant challenged auction notice in SARFAESI proceedings regarding housing loan defaults. Court rejected theft allegations and dismissed application as devoid of substance.
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DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
SA/100/2025 ISAAC JOHN GILL Vs BANK OF BARODA
27.11.2025 Item No.21
Present: Mr. B.D. Sharma and Kashmir Singh, Counsels for the Applicant.
Mr. C.S. Pasricha, Counsel for respondent bank.
Admittedly, in the year 2014 respondent bank had sanctioned housing loan of Rs.10.00 Lacs. To secure the same, applicant had created security interest in respect of the property measuring 1Kanal – 2Marlas situated at Village Jhawan, Tehsil Dasuya, District Hoshiarpur. Applicant could not make the repayment and the bank initiated the SARFAESI action and issued the notices under Section 13(2) and 13(4) and the bank took the physical possession on 20.03.2025. Applicant had filed the present SA on 03.04.2025 impugning the auction notice which was issued on 05.03.2025 for 15.04.2025. Admittedly, bank did not receive any bid in pursuance to the auction notice.
Mr. B.D. Sharma, counsel for the applicant argues that bank had taken the possession on 20.03.2025 and there was theft in the premises. However, he has not been able to tell as to what articles have been stolen from the secured asset while the bank was in possession of the property. Bank has already placed on the record panchnama. Nothing survives in the SA and the same stands disposed of .
File be consigned to record room after due compliance.
(A S Narang) Presiding Officer DRT-I, Chandigarh
PANKAJ
2 provisions across 1 enactments
ISAAC JOHN GILL
BANK OF BARODA
A S Narang
As recorded by the court registry
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