In a securitization application challenging a bank's sale notice, the DT-III held that the application stands dismissed for non-prosecution as the applicant failed to file affidavits despite multiple adjournments and directions.
Securitization Application No.307/2024 dismissed for non-prosecution.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
SA No.307/2024 (C)
03.03.2025
1
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 03rd day of March, 2025
Present: SMT. S.V. GOWRAMMA Presiding Officer
SARFAESI APPLICATION No. 307 of 2024
M/s Anand Cine Service Private Limited Rep. by its Partner Mrs. Padma Manohar No.3, Sarangapani Street T. Nagar, Chennai – 600 017 ….Applicant -Vs-
The Authorised Officer HDFC Bank Limited 1st Floor, ITC Center 760, Anna Salai, Chennai – 600 002 ….Respondent
Counsels on record / appeared:
Counsel for Applicants : M/s Anil Relwani
ORDER ON SA No. 307 OF 2024
The present Securitization Application [SA] is filed on 06.06.2024 under sub section [1] of S.17 of the Securitization And Reconstruction of Financial Asset and Enforcement of Security Interest Act,2002 (for short the ‘Act’) challenging the action and the measure taken by the secured creditor under the Security Interest Enforcement Rules, 2002 [for short the Rules].
SA No.307/2024 (C)
03.03.2025
2
within 30 days thereafter, if the sale had taken place. In case, if the sale did not take place, respondent bank was case was posted for outcome and for counter. Notice to respondent bank was ordered returnable by 29.07.2024.
Sd/(S.V. GOWRAMMA) PRESIDING OFFICER, DRT-III, CHENNAI
(Dictated to PS, transcribed by her, corrected, signed and pronounced by me on this the
03rd day of March, 2025)
2 issues framed by the court
Whether the Securitization Application shall be allowed when the applicant fails to proceed after being directed to question the Sale Notice.
Whether the Securitization Application shall be dismissed for non-prosecution when the applicant fails to file AOS despite several adjournments.
2 provisions across 2 enactments
M/s Anand Cine Service Private Limited Rep. by its Partner Mrs. Padma Manohar
The Authorised Officer HDFC Bank Limited
S.V. GOWRAMMA
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
