The Debt Recovery Tribunal examined a securitization application challenging a bank's SARFAESI action regarding a loan account of a deceased surety. The applicants alleged non-service of mandatory notices under Section 13 of the SARFAESI Act. The court found no merit in the allegations and dismissed the application.
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SA No. 116 of 2025
DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
SA No. 116 of 2025 Feroz Ansari and another Versus
A.O. State Bank of India
Dated: 19.09.2025
Item No. 18
Argued by: Mr.Satish Jaswal, Counsel for the Applicants.
Mr.SK Arora, Counsel for the Respondent Bank.
Feroz Ansari and another (Applicants) have filed this Securitization Application under Section 17 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act), against the Authorized Officer, The State Bank of India (Respondent).
SA No. 116 of 2025
DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
Registrar is directed to send a copy of this order to both the parties, as per rule. Thereafter, file be consigned to record room after due compliance.
(A S Narang) Presiding Officer Pronounced in open court DRT-I, Chandigarh Manoj/Dated: 19.09.2025
2 issues framed by the court
Whether the SARFAESI action initiated by the bank against the applicants warrants quashing on the grounds of alleged non-service of notices under Section 13(2) and 13(4).
Whether the bank properly issued notices and published them in newspapers as required under the SARFAESI Act.
3 provisions across 1 enactments
Feroz Ansari
another
State Bank of India
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
