Dismissed

Sri Sampath Kumar Kulkarni v. Indian Overseas Bank

DRT30 Jan 2025SA/67/2024

Case brief

AI extract

What is this about?

The court dismissed a Securitization Application filed by the applicant under the SARFAESI Act. The Tribunal found the application to be infructuous because the physical possession of the property had already been taken by the court-appointed Commissioner.

What did the court decide?

The Securitization Application No. 67/2024 is dismissed and declared to be infructuous. Pending Interlocutory Applications, if any, stand dismissed.

Sri Sampath Kumar Kulkarni versus Indian Overseas Bank — Banking and Recovery | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD

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DATED THIS THE 30th DAY OF JANUARY, 2025

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PRESENT: SH. RAMESHWAR KOTHE, B.Com, L.LB. (Hons.), M.A. PRESIDING OFFICER

¶4

SECURITISATION APPLICATION No. 67 OF 2024

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Between:

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Sri Sampath Kumar Kulkarni S/o Prakash Kumar Kulkarni Aged about 35^years Occ: Business, Plot No.14 Ward No.12, Block No.1 Adjacent to Raghavendra Nagar Colony Fathullaguda Village Uppal Revenue Mandal Medcha I^- M a I kaj^g i ri D i strict, .....Applicant.

¶7

And

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Indian Overseas Bank Rep by its Authorised Officer Rashtrapathi Road Branch 4-2-25, lst Floor Kasuva Complex Rashtrapathi Road Secunderabad-500003.

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Sri Santosh Kumar Gumpanpally S/o Mr. G. Krishna Murthy Rao Aged about 37 years, Occ: Business Plot No. 14, Indraprastha Colony Behind Ford Service Centre Fathullaguda, Hayath nagar K.V. Ranga Reddy Dist. Telangana-500068.

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Smt. Divya Sree Dhage W/o Santosh Kumar Aged about 35 years

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sa No.67/2024

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Occ: Housewife,^PlotNo.14 Indraprastha^ColonY Behind Ford^{Service Centre} Fath ullaguda,^HaYathnagar K.V. Ranga^ReddYDist. Telangana-500068.

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.....ResPondents.

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Counsel^{for the A\Plicant :} Mr. D. Rghavulu' Counsel for^{l't Res\ondent:} Mr. G. Rangaiah. Respondents^{2 and 3} : Dismissed^{for not taking} Notice.

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-:9-B-LE_8:-

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The^{present Securitization Application is filed by the Applicants} uls. 17 of^{the Securitisation and Reconstructionof Financial} Assets and^{Enforcementof Security InterestAct' 2002assailing} the action of^{1't respondentbank from takingphysical} possession of schedute^{property pursuant toAdvocate} Commissioner^{notice dated 27 Ol'2O24in pursuance of orders} passed by Hon'ble^{chief Metropolitan Magistrate at Medchal} Malkajgiri,^{Malkajglri District in crl M P' 516/2023'}

¶17

First^{respondent bank filed reply statement prayingfor} dismissal^{of the SA firstly on ground of admissibilityof} unregistered^{lease deed pressedinto service by the applicant} and secondly^{on the ground of the physicalpossessionof the} subject^{property having already been taken by the Advocate} Commissioner^{under Panchanamadated21 06 2024 These} submissions^{have not been dlsputedbY lhe aPplica/Cfrk} L" K''*

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sA No. 67/2024

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SA against respondents 2 and 3 has been dismissed for the reason of not taking any notice against them.

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In view of the above observation, nothing remains for adjudication in this SA. Hence the SA becomes infructuous and liable to be dismissed.

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In the result, present Securitization Application is dismissed as infructuous.

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Consequently, the Interlocutory Applications, pending if any, shall stand dismissed. No order as to costs.

¶24

Communicate a copy of this order to the parties concerned and upload on Web Portal.

¶25

(Dictated to the steno, corrected, signed and pronounced by me in the open court on this the 3dh day of January, 2025).

Sri Sampath Kumar Kulkarni v. Indian Overseas Bank

Case brief

What is this about?

What did the court decide?

Sri Sampath Kumar Kulkarni v. Indian Overseas Bank

Case brief

What is this about?

What did the court decide?

What the court decided

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