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2021 Supreme(Mad) 3621

SANJIB BANERJEE, M. DURAISWAMY
Industrial Development Bank of India – Appellant
Versus
Sree Narayana Textile Private Limited – Respondent


Advocates:
Advocate Appeared:
For the Petitioners: V. Raghavachari, K.R. Lakshmanan.
For the Respondents: Narendravasan, S. Sethuraman, V. Karthikeyan.

ORDER :

PRAYER: Review Application filed under Order XLVII Rule 1 & 2 read with Section 114 of CPC to review the order passed by this court in WP (MD) No. 5119 of 2020 dated 23.08.2021.

1. This review application pertains to a common order dated August 23, 2021 by which WP (MD) Nos.1113 of 2020 and 5119 of 2020 were disposed of. Both petitions were filed by the borrowers who had defaulted in making payment to the respondent bank. The review has been filed by the bank.

2. The solitary ground raised in the review is that while passing the order dated August 23, 2021, this court observed that the matter would be governed by the order passed by the Debt Recovery Appellate Tribunal and the Recovery Officer would be permitted to sell the property at an auction, though the records would reveal that the sale had already been concluded in March, 2020 in favour of the auction-purchaser who was also impleaded in both the writ petitions disposed of on August 23, 2021.

3. Following the debt due to the respondent bank being adjudicated by the Debts Recovery Tribunal-II, Chennai in proceedings under Section 19 of the then Recovery of Debts due to Banks and Financial Institutions Act, 1993, recovery p

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