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S.MANIKUMAR, M.GOVINDARAJ
B. Rajarajeshwari – Appellant
Versus
Presiding Officer Debts Recovery Tribunal–II Spencer Towers Chennai – Respondent


Advocates:
Counsel for the Parties:
For the Petitioner:Mr. S.P. Srinivasan, Advocate
For the Respondent No.2:Mr. S. Sethuraman, Advocate

ORDER

S. Manikumar, J.—The petitioner has availed Over Draft facility of Rs.15 lakhs (Rupees Fifteen lakhs only) from Tamilnad Mercantile Bank Ltd., Royapettah, Chennai 600 014. Due to financial distress, she could not repay the loan amount. After her loan account was classified as NPA, she had paid Rs.1 lakh (Rupees One lakh only), on 28.11.2011. Thereafter, on 08.02.2012, she moved an application under the SARFAESI Act, 2002, in S.A.No.30 of 2012, before the Debts Recovery Tribunal, Madurai. An interim order was passed, directing the petitioner, to deposit Rs.6 lakhs in two instalments. In compliance of the same, Rs.2,50,000/- and Rs.3,50,000/- were deposited, on 09.12.2012 and 08.03.2012, respectively. The petitioner has submitted that S.A.No.30 of 2012 was closed.

2. The petitioner has filed S.A.No.18 of 2015, challenging sale notice, dated 19.12.2014 and that the same is pending, on the file of the Debts Recovery Tribunal, Madurai. In S.A.No.18 of 2015, a conditional order was passed, in I.A.No.114 of 2015, dated 23.01.2015, staying the sale auction notice, dated 19.12.2014, by which, auction was to be held, on 27.01.2015. Pursuant to the conditional stay order, petitioner depos













































































































































































































































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