Driving Recovery Tribunal dismissed an application seeking condonation of delay under SARFAESI Act. The court held the claim hopelessly time barred due to the account being NPA since 2020 and property sold, dismissing the SA and pending IAs.
Application dismissed; all pending IAs disposed off.
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Court of the Presiding Officer Debts Recovery Tribunal, Jaipur
Item No. 11
Case No.SA/65/2026
PREM PRAKASH SHARMA Vs MOTILAL OSWAL HOME FINANCE LIMITED
Date: 12.02.2026.
Proceedings through hybrid mode Present:
Shri C P Sharma, Counsel for the Applicant Shri Vineet Sharma, Counsel for the Respondent Bank/FI
It is a fresh SA filed on behalf of S. applicant under Section 17 (1) of SARFAESI Act, 2002 challenging the measures taken by the respondent bank under the SARFAESI Act, 2002 in respect of the property in question.
Issue notices to the respondents . Counsel appears for the Respondent FI and accepts the notices.
Counsel for the respondent submits that this application is hopelessly time barred stating that this account is NPA since 2020 and the property was sold long back. He also submits that two FIRs have been filed, one is dated 15.04.2024 in which they have mentioned that the property has been sold by the respondent bank on 15.02.2024.
In the application seeking condonation of delay, the applicant admits receiving notice dated 18.06.2022 for taking possession of the matter. There is nothing stated in this application about the sale of the property or otherwise. According to the applicant, there are other reasons for not preferring the application, but no such reason has been disclosed, they are seeking total reversal of the entire securitization proceedings and this is not acceptable at all.
In view of the above, SA stands dismissed, all pending IAs also stands disposed off, if any.
File be consigned to record as per rules. Copy of order be uploaded on website.
(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Jaipur
cm
1 issue framed by the court
Whether the application under Section 17(1) of SARFAESI Act is time barred and deserves to be dismissed.
1 provisions across 1 enactments
Prem Prakash Sharma
Motilal Oswal Home Finance Limited
Vimal Gupta
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
