Dr Mahha Prabhbhu Raaja v. Icici Bank Limited
Case brief
What is this about?
In an application challenging a bank's sale notice under the SARFAESI Act, the DRT denied a full stay but granted a conditional stay, directing the applicant to deposit 25% of the outstanding dues by 11.00 a.m. on the sale date to prevent the auction.
What did the court decide?
Conditional interim stay of the Sale notice granted upon payment of 25% of the outstanding amount by 11.00 a.m. on 11.03.2026.
What the court decided
IA No.361 of 2026 In SA No.111/2026
06.03.2026
1
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 06th day of March, 2026
Present: SMT. S.V. GOWRAMMA Presiding Officer
IA No.361 of 2026 In
SA No. 111 of 2026
Dr. Mahha Prabhbhu Raaja Having its place of business at No.119/3A, Pathiri Olakur Block, Kutchikulathur Main Road, Villupuram – 604 307.
…Applicant
-Vs-
ICICI Bank Limited, Rep. by its Authorised Officer, Plot No.24, Block No.1, Arihant Insight Ambattur Towers, Ambattur, Chennai – 600 058.
Issues for consideration
2 issues framed by the court
Whether to grant a conditional stay on the Sale notice scheduled for 11.03.2026 by directing the applicant to pay 25% of the outstanding amount.
Whether the applicant is entitled to protection under Section 13 of the SARFAESI Act despite prior payments and pending Section 14 challenge.
Parties & counsel
- applicant
Dr. Mahha Prabhbhu Raaja
- respondent
ICICI Bank Limited
Coram
S.V. Gowramma
Case details
As recorded by the court registry
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