DEBT RECOVERY TRIBUNAL LUCKNOW dismissed an application challenging notices under Section 13(b) and Section 14 of SARFAESI Act, holding the application infructuous due to withdrawal of the initial notice, permitting fresh proceedings.
The Application Special Appeal was disposed of as infructuous; Applicant liberty to face fresh proceeding.
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DEBTS RECOVERY TRIBUNAL LUCKNO
Date of order or Order with signature of court lroceedinj SA No.472/2023 Sh. Praveen Dwivedi Ll coun beI for 04.09.2025 the applicant is present. SI No. 16 Sh. Arvind Srivastava Lb counbel for the respondent bank is prese4t.
nk is Ld counsel for the respohdent pressing I.A. No. 3047/2025 jearly Hearing application and submitted thbt durihg the preparation of reply it was nbticed by the respondent bank that pOstal fbceipt regarding demand notice datdd 07.09.2010 is missing and further in this r+gard aKidavit dated 09.07.2025 has been filbd
Qffice action taken with date
It is submitted that this bA hag been filed for setting aside sale ndtice in&luding demand dated 07.05.2010 add possbssion notice dated 11.01.2023, hodever, no bid was received by the responbent bjnk in pursuance of sale notice dated 08.05}2023.
Ld counsel for the applicbnt suk]mitted that subsequently in anothed sale hotice bid has been received.
Ld counsel for the resdonden+ bank submitted that any sale certidcate has not been issued and entire am6unt has not been deposited by the bidder.
In view of the facts, thel basis bf the case is that notice under sectIon 13(b) has been withdrawn and SA has bdcome infructuous
Respondent Bank is dt liberty to proceed for fresh becuritibation proceedings against the appIIcant abd he will issue fresh demand I notice! and possession notice and alsd take } fresh steps for order under sectidn 14 df the SARFAESI Act and issue a fresH sale notice
the SA Accordingly , IS dispospd of h nb : ns ng ;nbfpl seb+g g nhl Ink Pending I.A. if any, also dispoyed of accordingly . Record be consigned to r4cord rdom. Order be uploaded on the Tribbnal’s website.
(Dibtated) () rr (Pravas Kul bh) Presiding O (Manoj)
2 issues framed by the court
Whether Special Application for setting aside sale notice and demand notice becomes infructuous upon withdrawal of Section 13(b) notice.
Whether Respondent Bank is at liberty to proceed for fresh securitization proceedings after impugned notices were quashed.
2 provisions across 1 enactments
Sh. Praveen Dwivedi
Sh. Arvind Srivastava
Pravas Kumar
As recorded by the court registry
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