N Selvam v. Selvam
Case brief
What is this about?
The Tribunal dismissed an application seeking condonation of a 12-day delay in re-presentation of a Securitization Application. The court held that the SARFAESI Act mandates a strict 45-day limitation for challenging possession measures, and the Tribunal lacks discretion to extend this period.
What did the court decide?
IA No.429 of 2025 dismissed; consequently, SA No.132 of 2025 dismissed.
What the court decided
IA No.429 /2025 In SA No.132/2025
1
17.04.2026
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 17th day of April, 2026
Present: SMT. S.V. GOWRAMMA Presiding Officer
IA No.429 of 2025 in SA No. 132 of 2025
Mr. N. Selvam, S/o A. Natesan, No.61/30, 9th Cross Street, Trustpuram, Kodambakkam, Chennai – 600 024. …Applicant -Vs-
M/s. Piramal Capital & Housing Finance Ltd. Formerly known as Dewan Housing Finance Corporation Ltd. “Kalpalathika Towers”, New No.36, Old No.24, Dr. Ambedkar Road, Ashok Nagar Main Road, Kodambakkam, Chennai – 600 024.
…Respondent
Counsels on record / appeared:
Issues for consideration
3 issues framed by the court
Whether the Debts Recovery Tribunal has the power to condone a delay in filing an application under Section 17 of the SARFAESI Act.
Whether Section 5 of the Limitation Act applies to applications filed under the SARFAESI Act.
Whether an application challenging a Section 13(14) order filed beyond the statutory period of 45 days is maintainable.
Parties & counsel
- appellant
Mr. N. Selvam
- respondent
M/s. Piramal Capital & Housing Finance Ltd.
Coram
S.V. Gowramma
Case details
As recorded by the court registry
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