Dismissed

Ms Sri Venkateshwara Granites and Treders Rep by Its Pro Anappa v. Canara Bank

DRT7 Mar 2025SA/155/2024

Case brief

AI extract

What is this about?

Applicant challenged measures under the SARFAESI Act filed beyond 45 days without sufficient cause. Relying on a High Court precedent limiting Tribunal jurisdiction, the Tribunal held the condonation application non-maintainable. Consequently, both the interim application and the main Securitization Application were dismissed.

What did the court decide?

IA No.1372 of 2024 for condonation of delay and SA No.155 of 2024 were dismissed.

Ms Sri Venkateshwara Granites and Treders Rep by Its Pro… — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II, BANGALORE

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Dated this 7th day of March 2025

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PRESENT: SHRI T. RAJESH PRESIDING OFFICER

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IA No.1372/2024 IN S.A. No.155 of 2024

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M/s. Sri. Venkateshwara Granites and Traders, Rep. by its Proprietor Mr. Annappa B S , S/o. Late B J Sannappa No. 2176/A B M Road No. 2176/ A B M Road Periyapatna Taluk, Mysore-571107.

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… Applicants

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Versus

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The Authorized Officer Canara bank, Bylukuppe Branch, B M Road, Santhepet, Mysore District-571 104. … Respondent

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Ld. Counsels on record / appeared :-

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For Applicant :- Shri E. Devaraja Counsel for Respondent :- M/s. VS Associates

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ORDER

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The Securitization Application; in short this SA is filed u/s 17

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of the Securitization and Reconstruction of Financial Assets

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and Enforcement of Security Interest Act, 2002 (herein after

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SA 155/2024

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2 IA 1372/2024 in

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been referred to as ‘SARFAESI Act’) by impugning the measures taken by the respondent and in particular challenging the Order passed in Crl MISC No.128/2023 dated

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17.7.2023 of the I Addl Sr Civil Judge & CJM, Mysore.

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This SA is filed on 29.7.2024 along with IA 1372 of 2024 seeking a prayer to condone the delay of 334 days in filing this Application. The respondent filed their objection raising amongst other contentions taken up the defence that the SA is liable to be dismissed on the ground of delay. Since the issue as to the limitation is raised as a preliminary issue, this Tribunal is obligated to consider the same.

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Heard the Ld. Counsels appearing for both sides and considered their contentions in respect of this issue.

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Admittedly the order dated 17.07.2023 is challenged in this SA filed only on 29.7.2024 and the applicant had also preferred IA No.1372 of 2024 for condonation of delay. Whether this Tribunal is empowered under the statute to entertain an application after the expiry of 45 days is settled

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SA 155/2024

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3 IA 1372/2024 in

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by the recent Bench judgment of the Hon’ble High Court of Karnataka at Bangalore in Writ Petition No.11273 of 2024. The Hon’ble High Court had, in the above case, had laid down that the Debt Recovery Tribunal is not empowered to entertain an application after 45 days from said measures which is under challenge. In view of the law as laid down by Hon’ble High Court, the IA No.1372 of 2024 is not maintainable before this Tribunal and hence is liable to be dismissed.

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Hence, the IA No.1372 of 2024 stands dismissed, in sequel, the SA No.155 of 2024 also stands dismissed. In the facts and circumstances of the case there will be no orders as to cost.

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Copy of this order be communicated to the parties concerned.

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(Dictated to my PS directly on the Computer, corrected and pronounced by me in the open Court on this the 7th day of March 2025)

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Sd/(T. RAJESH) PRESIDING OFFICER

Ms Sri Venkateshwara Granites and Treders Rep by Its Pro Anappa v. Canara Bank

Case brief

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Ms Sri Venkateshwara Granites and Treders Rep by Its Pro Anappa v. Canara Bank

Case brief

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