RSNagaraj v. Dcb Bank Limited
Case brief
What is this about?
The Tribunal allowed an application for stay on a Section 14 order under the SARFAESI Act, finding no delay in filing. An interim stay subject to a conditional payment of Rs. 20 lakhs was granted to the applicant.
What did the court decide?
Interim stay of the Section 14 order dated 17.03.2026 granted on condition that applicant deposits Rs. 20,00,000/- by 30.07.2026; default leads to automatic vacation of stay.
What the court decided
IA No.1111/2026 In SA No.353/2026
14.07.2026
1
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 14th day of July, 2026
Present: SMT. S.V. GOWRAMMA Presiding Officer
IA No. 1111 of 2026
In
SA No. 353 of 2026
- Mr. R.S.Nagaraj S/o. Sadacharam, No.40/1, 54/1, Muthaya Mudali Street, Old Washermenpet, Chennai-600021.
- M/s. Sri Bhavani Amman Industries Rep. by Mr. R.S.Nagaraj Having officer at
- No.40/1, 54/1, Muthaya Mudali Street, Old Washermenpet, Chennai-600021.
Issues for consideration
3 issues framed by the court
Whether the Securitization Application filed under Section 17(1) of the SARFAESI Act is time-barred given the knowledge date of the Section 14 order.
Whether to grant a stay on the Section 14 order passed by the Civil Court in the underlying recovery proceeding.
Whether the applicant is liable to deposit a sum to secure the interim stay granted.
Parties & counsel
- applicant
R.S. Nagaraj and others
- respondent
DCB Bank Limited
Coram
S. V. Gowramma
Case details
As recorded by the court registry
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