Allowed

Ms Sri Venkateswara Educational Trust v. Icici Bank Limited

DRT12 Jun 2026SA/585/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed interim applications filed by the borrower to raise additional grounds in ongoing Sale Appeals. The Tribunal permitted the amended prayer to address pari-passu charges and auction procedures to avoid multiplicity of proceedings and decided the matter for a final hearing date.

What did the court decide?

The interim applications No.814 and 815 of 2025 were allowed, directing the applicant to amend the prayer in the Sale Appeal to include the additional grounds and file the amended appeal within a week

Ms Sri Venkateswara Educational Trust versus Icici Bank Limited — Intellectual Property | DRT (2026)

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IA No.815/2025 In TSA 555/2023 & IA No.814/2025 In SA 585/2023

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12.06.2026

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IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

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Dated this the 12^th day of June, 2026

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Present: SMT. S.V. GOWRAMMA Presiding Officer

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IA No.815 of 2025 In TSA No. 555 of 2023

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Mr. G. Kesav Yadav,

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Managing Director of Sri Venkateswara Educational Trust, S/o Mr. Ganapathi Pillai, No.40/41, Periyar Street, Shanmuga Nagar Extension, Kanchipuram 631 501.

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…Applicant

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-Vs-

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The Authorized Officer, ICICI Bank Ltd. 3^rd Floor, No.1, Cenotaph Road, Teynampet Chennai – 600 018.

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Authorized Manager, UCO Bank, No.236, Thambu Street, Chennai – 600 001.

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J.R. Super Hospitals Private Limited, No.29, Tilak Street, Parthasarathipuram, T. Nagar, Chennai – 600 017.

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…Respondents

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Counsels on record / appeared:

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Counsel for Applicant : Mr. K. Ravindranath Counsel for 1^st respondent : M/s. Shivakumar Counsel for 2^nd respondent : M/s. P. S. Ganesh Counsel for 3^rd respondent : M/s. T. Ravichandran

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Uploaded in E-Drt on 12.06.2026 at 12:35 p.m.,

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IA No.815/2025 In TSA 555/2023 & IA No.814/2025 In SA 585/2023

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12.06.2026

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Dated this the 12^th day of June, 2026

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Present: SMT. S.V. GOWRAMMA Presiding Officer

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IA No.814 of 2025 In

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SA No. 585 of 2023

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M/s. Sri Venkateswara Educational Trust, Uthukadu, Near Walajabad, Kancheepuram – 631 605.

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M/s. Sri Venkateswara Technical Educational Trust No.81, Kamarajar Street, Kancheepuram – 631 501 Rep. by its Chairman/ Managing Trustee, Mr. G. Kesav Yadav

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…Applicants

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-Vs-

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The Authorized Officer, ICICI Bank Ltd. 3^rd Floor, No.1, Cenotaph Road, Teynampet Chennai – 600 018.

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J.R. Super Hospitals Private Limited, No.29, Tilak Street, Parthasarathipuram, T. Nagar, Chennai – 600 017.

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Authorized Manager, UCO Bank, No.236, Thambu Street, Chennai – 600 001.

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…Respondents

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Counsels on record / appeared:

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Counsel for Applicant : Mr. K. Ravindranath Counsel for 1^st respondent : M/s. Shivakumar Counsel for 2^nd respondent : M/s. T. Ravichandran Counsel for 3^rd respondent : M/s. P. S. Ganesh

¶36

Uploaded in E-Drt on 12.06.2026 at 12:35 p.m.,

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IA No.815/2025 In TSA 555/2023 & IA No.814/2025 In SA 585/2023

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3 12.06.2026

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Common Order in IA No.815 and 814 of 2025

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In TSA No.555/2023 and SA No.585/2023

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The applicant, respondents are common in both the SAs and

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applicant filed IAs to raise additional grounds in both the cases. Hence, a common order is passed.

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The applicant has filed the SA Diary No.710 of 2022 before Debts Recovery Tribunal II and the matter was transferred to this Tribunal in view of the jurisdiction, the SA came to numbered as TSA No.555 of 2023 and SA No.585 of 2023 filed before this Tribunal.

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The applicant has challenged the Sale certificate dated 04.05.2022 in TSA 555/2023 and Deed of sale certificate dated 27.09.2023 in SA 585/2023.

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The respondent bank has filed their counter on 07.05.2024 and 2^nd respondent being the Pari passu charge holder and 3^rd respondent is the auction purchaser has filed their counter to the main SA. The applicant has now filed the IA for raising the additional grounds on 26.09.2024 to which the bank as well as the 2^nd , 3^rd respondent has filed their counter.

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It is seen that the additional grounds raised is pertaining to the Pari passu charge not being included in the Section 13(2) Demand Notice and registration of charge before the central registry under Section 26(D) of

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Uploaded in E-Drt on 12.06.2026 at 12:35 p.m.,

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IA No.815/2025 In TSA 555/2023 & IA No.814/2025 In SA 585/2023

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4 12.06.2026

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SARFAESI Act, and the question of mortgage by the applicant’s trust is also raised.

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It is seen that the additional grounds as raised by the applicant is with regard Rule 8 and 9 is already raised in ground “a, i, h” of the present SA. The respondents have also filed their counter to the present applications contending that the present IA for raising additional grounds would alter the nature of the present SA.

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Heard both sides of the Counsels and perused the records of the case.

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The applicant is the borrower who has filed the present SA challenging the Sale certificate dated 04.05.2022 and registration of Sale certificate dated 27.09.2023 and had also raised similar contentions of additional grounds in TSA 555/2023 and SA 585/2023. The present application is filed by the applicants to raise additional grounds which is after the change of vakalat for the counsel of applicant.

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The additional grounds as raised by the applicant is pertaining to the auction sale of the property, though respondents resisted for allowing the prayer for raising additional grounds, there is no prejudice caused to the respondents in allowing the present IA. On the other hand, it enables the Tribunal in adjudicating the issue pertaining to the auction sale notice, sale held and Sale certificate issued by the respondent bank in totality. Further, in order to avoid multiplicity of the proceedings and to give quietus to the issue, the Tribunal feels it apt to allow the IA No.814 and 815 of 2025.

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Uploaded in E-Drt on 12.06.2026 at 12:35 p.m.,

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IA No.815/2025 In TSA 555/2023 & IA No.814/2025 In SA 585/2023

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5 12.06.2026

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Accordingly, IA No.814 and 815 of 2025 is allowed in the respective SA/s and applicant is hereby directed to amend the prayer in the SA to the extent of additional grounds raised in both TSA 555/2023 and SA 585/2023

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and file the amended SA within a week from the date of the Order after due service to the parties. This order is to be kept in TSA No.555/2023 and SA 585/2023. List the matter on 07.07.2026 for final hearing.

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Sd/- (S.V. GOWRAMMA) PRESIDING OFFICER, DRT-III, CHENNAI

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( Dictated to Steno (Mogesh), transcribed by him, corrected, signed and pronounced by me on

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this the 12^th day of June, 2026)

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Uploaded in E-Drt on 12.06.2026 at 12:35 p.m.,

Ms Sri Venkateswara Educational Trust v. Icici Bank Limited

Case brief

What is this about?

What did the court decide?

Ms Sri Venkateswara Educational Trust v. Icici Bank Limited

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

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