Smt Mangala Gowri. M v. Cholamandalam Investiment and Finance Company Limited
Case brief
What is this about?
Karnataka High Court (single bench, M.G.S. Kamal J.) disposed Writ Petition No. 19560 of 2022 (GM-RES), a challenge under Article 226 to a possession/pre-possession notice issued by Cholamandalam Investiment and Finance Company Limited under the SARFAESI Act; petition disposed after respondent produced No-Due certificate dated 10.04.2023 confirming closure of the loan and absence of dues. No adjudication on merits; no precedents cited. Keywords: SARFAESI, possession notice, pre-possession notice, quashing, Article 226, No-Due certificate, loan closure, disposed.
What did the court decide?
The petitioner has closed the loan availed against the subject property and the respondent-Bank has issued a letter/No-Due certificate indicating there are no dues of any nature whatsoever. ¶¶25