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DEBT RECOVERY APPELLATE TRIBUNAL
G. Chandrasekharan, CJ
Mr. P.L. Venkatarama Reddy, Mrs. Nalini Reddy – Appellant
Versus
Dr. Uma Suresh, The National Co-operative Bank Ltd. – Respondent
| Table of Content |
|---|
| 1. procedural background of auction dispute. (Para 2 , 3 , 4) |
| 2. arguments concerning auction process compliance. (Para 5 , 7) |
| 3. court's findings on procedural violations. (Para 10 , 11 , 12) |
| 4. final decisions confirming prior proceedings. (Para 19) |
| 5. conclusion and dismissal of the appeal. (Para 20) |
ORDER
1. Challenging the order passed by Learned Presiding Officer, DRT-II, at Bengaluru, in SA 306/2020 on 27.05.2021, this Appeal is filed.
2. The brief facts leading to this Appeal are that, the Appellants are the Respondent Nos. 2 and 3 in SA 306/2020. First Respondent herein, filed SA 306/2020 under Section 17 (1) of SARFAESI Act , 2002, challenging the action and measure taken by Authorised Officer of Respondent No.2 Bank, under the Security Interest (Enforcement) Rules, 2002 (hereinafter referred to as Enforcement Rules, 2002).
3. The prayers made by 1st Respondent in SA 306/2020 were:
i) To set aside the measures initiated by the Respondent Bank under Section 13 of the SARFAESI Act in relation to the Schedule property of the Applicant, inter alia, the attempts to auction Schedule property, pursuant to the notice dated 21.02.2019 issued under Section 13 (4) of the
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