The Tribunal disposed of a securitization application challenging a Section 14 order after the applicant and respondent admitted the loan account was settled and closed with a No Due Certificate issued.
Applicant directed to obtain documents by 10.03.2025; Respondent directed to hand over title deeds as per procedure.
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.
S.A. No.48/2025 (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. 48 of 2025
S. Vidyakaran, S/o. Late. D. Shanmuga Sundaram No.37/73, Vannier street Chennai – 600 024. ….Applicant
-Vs-
M/s. REPCO Home Finance Ltd Rep. By its Authorized Officer Chief Manager Porur Branch Chenai. ….Respondent
Counsels on record / appeared:
Counsel for Applicant : M/s. S.A. Secular
ORDER ON SA No. 48 OF 2025
The present Securitization Application [SA] is filed on 25.10.2024 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].
S.A. No.48/2025 (c)
2
03.03.2025
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)
1 issue framed by the court
Whether the present securitization application deserves adjudication given the settlement of the loan account and issuance of No Due Certificate.
1 provisions across 1 enactments
S. Vidyakaran
M/s. REPCO Home Finance Ltd
S.V. Gowramma
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
