JUDGEMENT

: On 19^th September, 2023 THE APPELLATE TRIBUNAL Instant appeal has been preferred against a judgment and order dated 06.09.2021 passed by Learned DRT Visakhapatnam dismissing the S.A. No. 45 of 2021 P. V. Ramana Moorthy Vs. M/s ARCIL & Ors. 2. Pleadings of the parties would reveal that the Appellant herein namely P.V. Ramana Moorthy alleges himself to be the lessee.

Third Respondent namely M/s Anandaram Developers Pvt. Ltd. is the borrower while Respondent No. 2 M/s Manoharamma Hotel Investments Private Limited represented by its Director Mr. K. Bapaiah is the guarantor. Appellant is aggrieved by the measures initiated by Respondent No. 1 under Section 14 of the SARFAESI Act (hereinafter referred to as the Act).

3. According to the Appellant, an application under Section 14 of the SARFAESI Act was moved by the Respondent No.

1 namely M/s Asset Reconstruction Company (India Limited) before the Chief Metropolitan Magistrate, Rajahmundry by making untrue and baseless allegations. Pursuant to the Application, an order under Section 14 of the SARFAESI Act was issued by the Learned Magistrate on 03.12.2020 for taking physical possession of the schedule property.

4.