Bhavani v. 30
Case brief
What is this about?
The Debt Recovery Tribunal disposed of an application challenging a sale notice as infructuous because the respondent bank reported that there were no bidders and the sale did not materialize.
What did the court decide?
Application disposed off as infructuous; pending IAs disposed off; interim order vacated.
What the court decided
SA No.379/2023
20.03.2025
1
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 20th day of March, 2025
Present: SMT. S.V. GOWRAMMA
Hon’ble Presiding Officer
SARFAESI APPLICATION No. 379 of 2023
- Mrs. Bhavani Prop. of M/s. Sri Bhavani Traders, No. 941, TVS Colony, 54th street, Anna Nagar, West Extn., Chennai – 600 101.
- Mr. Sivashankaran, No. 941, TVS Colony, 54th street, Anna Nagar, West Extn., Chennai – 600 101. ..Applicants
-Vs-
M/s. Canara Bank, Chennai Mount Road Branch, No. 787, Royala Towers, Anna Salai, Chennai, Tamil Nadu – 600 002. Rep. by its Authorized Officer. ..Respondent
Issues for consideration
1 issue framed by the court
Whether a Sale Notice application under Section 17(1) of SRA Act stands disposed of when the sale is declared infructuous due to lack of bidders.
Parties & counsel
- applicant
Mrs. Bhavani Prop. of M/s. Sri Bhavani Traders and Mr. Sivashankaran
- respondent
M/s. Canara Bank
Coram
S.V. Gowramma
Case details
As recorded by the court registry
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