Dismissed
Sushil Kumar Jain v. Iifl Home Finance Limited
DRTSA/269/2024
What the court decided
AI extract
Outcome
Dismissed
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Court of the Presiding Officer Debts Recovery Tribunal, Jaipur
Item No. 86
Case No.SA/269/2024
SUSHIL KUMAR JAIN Vs IIFL HOME FINANCE LIMITED
Date: 18.09.2025.
Proceedings through hybrid mode Present:
Shri Kapil Kumar Kumawat, Counsel for the Applicant Shri Akshat Kulshreshtha, Counsel for the Respondent Bank/FI
Shri Ashish Srivastav, Counsel for the Auction Purchaser
In this matter, counsel for the respondent bank submits that there is no registered document in favor of the applicant herein and they might be claiming right on the basis of agreement to sale.
On the other hand, counsel for the applicant submits that from the same the bank has sanctioned them the loan and they were also advanced loan by executing loan documents. Subsequently, they immediately came out with the auction and sold the property. No loan was disbursed.
Be that it may be, sanctioning of the loan, taking the documents and subsequently, no disbursement made is a separate cause of action and do not relate to the SARFAESI action taken by the bank. It is argued that entire process under the SARFAESI Act has been carried out and the borrowers are not the person to challenge the same, therefore, the person who mortgaged the property has no objection for sale of the property.
In view of the above, this Securitization Application stands dismissed being devoid of merit and locus of the party.
File be consigned to record, as per rules. Copy of order be uploaded on website.
Court of the Presiding Officer Debts Recovery Tribunal, Jaipur
(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Jaipur
Sushil Kumar Jain
IIFL HOME FINANCE LIMITED
Vimal Gupta
As recorded by the court registry
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