The Debt Recovery Tribunal (Lok Adalat) dismissed a securitization application filed by the applicant bank citing domain. The court found it infructuous because the respondent withdrew possession notice and auction proceedings were not materialized. Ordered copies to parties.
Securitization application No. 228/2024 dismissed as infructuous.
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BEFORE THE LOK ADALAT DEBTS RECOVERY TRIBUNAL II - HYDERABAD
AWARD
DATED: 14.06.2025
IN
SECURITIZATION APPLICATION NO : 228/ 2024
Present:-
Reference made by Applicant through: Sri Ravikiran Singh, Advocate. Respondent through: M/s. Chavan & Associates Law Firm, Advocates.
Between: -
Sri Dori Srinivasulu. Applicant. And Bank of India & Another. Respondents.
sA. 22a/2O24
that the SA has been filed challenging the sale notice dated 13,04.2024 pursuant to the possession notice dated 2t.tl.2023. However, the auction sale proceedings pursuant to sale notice dated 13.04.2024 were not materialized and thereafter, the respondent bank withdrew the possession notice dated 21.11.2023. Under such circumstances, the very cause of action for filling the SA does not survive. Accordingly, the SA becomes infructuous. Hence the SA may be dismissed as infructuous. Learned counsel appearing for the applicant endorsed the contents of the Memo by subscribing his signature on the same.
(Given under the hand and seal of the Lok Adalat Bench on this the 14th day of June, 2025)
Gampa Rangaiah N. M. Shiny Mounika Member Member
Member
ffi:"X" Presiding Officer
Sri Dori Srinivasulu
Bank of India
Rameshwar Kothe
Gampa Rangaiah
N.M. Shiny Mounika
As recorded by the court registry
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