The Debt Recovery Tribunal allowed the Applicant's Securitization Application, setting aside a possession notice issued by the Respondent bank. The bank failed to serve statutory demand and possession notices, violating SARFAESI Act procedures.
The possession notice dated 13.03.2025 in respect of Schedule Property is set aside.
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INTHE DEBTSRECOVERYTRIBUNAL-IIAT HYDERABAD DATEDTHIS THE15THDAY OF OCTOBER'2025 L'LB'(Hons')' M'A'
pREsENr:sH. RAMEsHSTDTRI%tilr.tT'
SecuritizationApplicationNo.200oF2025
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........APPlicant
Versus
" "" 'ResPondent' ",-6fr1{ii#,-,'-*:l;ill'
Mr.D. Raghavulu Counselfor the APPlicant: : Ex Parte ResPondent
-:ORDER:-
1.The present Securitization Application^isfiled by the Applicant 'ur,,';;il":1.:r#ffi[XTiil'.T1"&;ifJ::#i:l'{:,::,3 il'::TH::"[':."TJ:'J"::;1::}1;i::":::::."-il::1",i,':1i."' Sec.13(4)againsttn" pit'on schedule property and without following the SARFAESIAct and Rules' dueprocedur" u' tonfJoi"iJ '"otr. ioorl utillegal,arbitrary,unjust' void'
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the possession notice was not affixed andpublished asper Rules. The respondent bank failed to follow theprocedures contemplatedunder Secs 13(2), 13(4) of the Act and Rules B(1) & 8(2) of theSecurity Interest (Enforcement) Rules, 2002. Hence this SA.
5, It is the contention of applicant that the respondentfailed to serve demand notice andpossession notice under Sec.13(2)and 13(4) of the Act. As stated supra, respondent remained exparte tothe SA proceedings and hence no material is available asproof of compliance of procedure of law. Under such circumstances, the contentions of applicant remain unchallenged and accordingly SA deserves to be allowed.
(Typed to my dictation bythePS, corrected, signed and pronouncedby me in the opencoufton this the15th daYof October, 2025).
%.rsf AR KOTHE) PRESIDINGOFFICER
1 issue framed by the court
Whether to allow the Securitization Application filed seeking quashing of a possession notice issued without following statutory due process under the SARFAESI Act.
3 provisions across 2 enactments
Applicant
Respondent
A.R. Karthikoth
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
