DEBT RECOVERY APPELLATE TRIBUNAL
Justice Shri G. CHANDRASEKHARAN
A O Axis Bank Ltd – Appellant
Versus
Mr H Ramkumar ors – Respondent
O R D E R
1. This Appeal is filed challenging the order of Learned Presiding Officer, DRT-II, Chennai, in SA 134/2017 dated 03.09.2018.
1.1 SA 134/2017 was filed by 1st Respondent herein challenging the Possession Notice dated 15.05.2017. After the contest, the SA was allowed with exemplary costs of Rs.25,000/- imposed on the Appellant Bank. Aggrieved by the said order, this Appeal is filed by the Bank.
2. Learned Counsel for Appellant Bank submitted that the Learned Presiding Officer, DRT-II, Chennai, allowed the SA and aside the Possession Notice dated 15.05.2017, on the following grounds:
i. Security interest was created in respect of the property in which the Respondent Nos. 5 and 6 have only a limited interest. This is against the terms of the Will;
ii. They can raise loan with Banks only for the purpose of business or construction of building. Loan cannot be taken for a different purpose.
iii. The mortgage by Deposit of Title Deeds was executed by Respondent No.5 in his individual capacity and as a power agent of Respondent No.1; however, the Tribunal below found that when the Respondent No.1 disputed the execution of the power of attorney, the claim of execution of mortgage by Dep


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