Partly allowed
Renugambal v. Karur Vysya Bank
DRTSA/396/2025
Case brief
AI extract
What is this about?
The applicant challenged a CJM order under Section 14 of the SARFAESI Act, citing non-service of the Section 13(2) notice and alleged RBI guideline violations in NPA classification. The court allowed maintenance of status quo subject to the applicant depositing 10% of the dues immediately and an equal amount within one month. Failure to comply would allow the bank to proceed with enforcement.
What did the court decide?
Order passed under Section 14 of the SARFAESI Act kept open; status quo maintained subject to depositing 10% of the dues within 10 days and an equal sum within one month.