Reji a S v. Irinjalakuda Town Co-Operative Bank Ltd.
Case brief
What is this about?
Debt Recovery Tribunal set aside a sale of secured asset by a cooperative bank and a possession measure initiated later. The court held that sale proceedings violating mandatory CERSAI registration under Section 26-D were void ab initio, rendering the limitation period inapplicable. The applicant was allowed to challenge the sale but barred from questioning pre-Chapter IV-A measures.
What did the court decide?
Sale under Section 13(5-A) and possession measure under Section 14 were set aside; liberty to proceed afresh given without costs.
What the court decided
IN THE DEBTS RECOVERY TRIBUNAL-2, KERALA AT ERNAKULAM
PRESENT: SRI.SOVAN KUMAR DASH PRESIDING OFFICER
Dated this the 08th day of December, 2025
SECURITIZATION APPLICATION No.773/2024
Between
Reji A.S., Athamkudam House, Kunnampilly P.O., Thrissur – 680 311. .…Applicant.
And
The Authorised Officer, Irinjalakuda Town Co-operative Bank, Head Office, Tana South, Irinjalakuda, Thrissur – 680 121. …Defendant
This Securitization Application having been heard on
07.11.2025 in the presence of Advocate Jithendran S. for the applicant and Advocate Uma G.Krishnan for the defendant and stood over to this day for consideration, the Tribunal delivered the following:
F I N A L O R D E R
Issues for consideration
3 issues framed by the court
Whether the claim against the purchase of the secured asset is barred by limitation given the subsequent registration of security interest under Section 26-D?
Whether there was illegality in the sale proceeding and securitization process due to violation of mandatory CERSAI registration requirements?
Whether the applicant is entitled to relief setting aside the sale under Section 13(5-A) and the possession measure under Section 14?
Parties & counsel
- applicant
Reji A.S.
Coram
Sovan Kumar Dash
Case details
As recorded by the court registry
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