SupremeToday Landscape Ad
Back
Next
Judicial Analysis Court Copy Headnote Facts Arguments Court observation
Listen Audio Icon Pause Audio Icon
judgment-img

2019 Supreme(Kar) 914

L.NARAYANA SWAMY, R.DEVDAS
Trishul Developers – Appellant
Versus
L & T Housing Finance Limited – Respondent


Advocates:
Advocate Appeared:
Udaya Holla, Adv., Shashikiran Shetty, Adv.

JUDGMENT :

R. Devdas, J.

The petitioner-Partnership Firm availed financial assistance from the first respondent-Financial Institution to the tune of Rs.20,00,00,000/- (Rupees twenty crores), for the purpose of completion of construction of projects, as per sanction letter dated 07.08.2015. On default, when the first respondent initiated proceedings under the provisions of The Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002, (SARFAESI Act), the petitioner herein approached the Debt Recovery Tribunal (hereinafter referred to as 'DRT' for short), challenging the demand notice on the ground that the notice was issued by an unconcerned party, from whom the petitioner had not borrowed any amount. Possession notice was also sought to be quashed.

2. By order dated 23.03.2018, the DRT allowed the appeal S.A.No.76/2018 and quashed the demand notice dated 14.06.2017 and possession notices dated 09.11.2017 and 10.11.2017. When the first respondent approached the Debt Recovery Appellate Tribunal (for short 'DRAT'), at Chennai, the DRAT allowed the appeal, by order dated 16.04.2019. As a result, the petitioner is before this Court assailing the

          Click Here to Read the rest of this document
          1
          2
          3
          4
          5
          6
          7
          8
          9
          10
          11
          SupremeToday Portrait Ad
          supreme today icon
          logo-black

          An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers

          Please visit our Training & Support
          Center or Contact Us for assistance

          qr

          Scan Me!

          India’s Legal research and Law Firm App, Download now!

          For Daily Legal Updates, Join us on :

          whatsapp-icon telegram-icon
          whatsapp-icon Back to top