Ravina Healthcare P Ltd. v. Union Bank of India
Case brief
What is this about?
The Debt Recovery Tribunal addressed an application to set aside a Sale Notice and stay an impending auction of mortgaged property. The court fixed a conditional stay requiring the applicant to pay Rs. 2.5 crores by 10:30 AM on the auction date, failing which the stay would lapsed automatically.
What did the court decide?
Interim stay on the E-Auction Sale Notice granted conditionally upon payment of Rs. 2,50,00,000/- by 10:30 AM on 28.01.2026; failure to pay results in automatic vacation of the stay.
What the court decided
IA No.183 of 2026 in SA No. 57 of 2026
27.01.2026
1
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 27th day of January 2026
Present: SMT. S.V. GOWRAMMA
Presiding Officer
IA No.183 of 2026 in
SA No.57 of 2026
Ravina Healthcare Pvt. Ltd., Rep. by Managing Director, Dr. A. Sreenivasulu No.99, Poonamallee High Road,
Maduravoyal, Chennai – 600 095.
…Applicant
Issues for consideration
3 issues framed by the court
Whether the Securitization Tribunal should grant an interim stay on the E-Auction Sale Notice dated 23.12.2025 issued by the secured creditor.
Whether the applicant's readiness to pay a partial sum of Rs. 75 lakhs or an alternative directed amount justifies an interim stay against the impending sale.
Whether the voter of the interest in the property or the statutory notices issued by the bank contain any infirmities warranting a stay.
Parties & counsel
- applicant
Ravina Healthcare Pvt. Ltd.
- respondent
The Authorised Officer, Union Bank of India, Asset Recovery Branch, Chennai
- respondent
The Manager, Union Bank of India, T. Nagar 1 Chennai Branch
Coram
Case details
As recorded by the court registry
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