K Saranya v. Saranya
Case brief
What is this about?
This debt recovery tribunal allowed an application filed under Section 17 of the SARFAESI Act challenging a possession notice issued under Section 13(4) to a third party. The court held that the notice was wrongly served on an individual who was neither a borrower nor a guarantor.
What did the court decide?
Allowed setting aside the Possession Notice dated 01.10.2024 issued to the applicant. Cautioned respondent to initiate measures only against borrower/mortgagor.
What the court decided
SA No.5/2025
1
20.06.2025
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 20th day of June, 2025
Present: SMT. S.V. GOWRAMMA Presiding Officer
SA No. 5 of 2025
K. Saranya, D/o. N. Kuppuswamy, Aged 35 years, Plot No.77, Orange home ground floor, Vivekanandha Nagar, 2nd main road, Ayapakkam, Thiruvallur. ….Applicant
-Vs-
Axis Bank, 2nd floor, Door No.31, Old No.14, South Mada Street, Mylapore, Chennai -600 004. ….Respondent
Counsels on record / appeared:
Counsel for Applicant : M/s. P. Jesus Moris Ravi
Issues for consideration
2 issues framed by the court
Whether the debt recovery tribunal has jurisdiction to entertain a securitization application challenging a possession notice served on a third party who is not a borrower or guarantor.
Whether Securitization Application turned on the ground that the possession notice was wrongly affixed on a property not belonging to the applicant.
Parties & counsel
- applicant
K. Saranya
- respondent
Axis Bank
Coram
Smt. S.V. Gowramma
Case details
As recorded by the court registry
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