Debts Recovery Tribunals and Appellate Tribunals
CANARA BANK vs MS AGARWAL AUTO TRADERS on 3 April 2025
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**ORDER-SHEET** Page No. ....
**DEBTS RECOVERY TRIBUNAL, DEHRADUN**
**M.A. No.10 of 2025** **Canara Bank Vs M/s Agarwal Auto Traders & Ors**
**Date: 03.04.2025**
Item No.09
Present: Sh. R.S. Bajwa, Counsel for Applicant/Respondent Bank Called out, Ld. Counsel for the Applicant/Respondent Bank present.
The Securitization application No. 217 of 2023 was filed by the Respondent/Applicant. The Applicant Bank/Respondent Bank has approached this Tribunal with a prayer for proceeding a fresh under S.A.R.F.A.E.S.I. Act, 2002. The said Securitization Application No.217 of 2023 was decided as infructuous due to non-receiving of the bid in auction sale dated 11.09.2023.
During arguments Ld. Counsel for the Applicant/Respondent Bank has stated that recovery certificate has already been issued by the Tribunal, the order was passed on 02.01.2025 on the ground of statement made by Ld. Counsel for the Applicant/Respondent Bank.
In present application no ground has been shown by the Applicant/Respondent Bank in relation to the previous statement made by the Applicants at the time of hearing of the Securitization application, nothing has been mentioned about different situation.
Even though principle laid down by Hon'ble different High Courts and in the light of provision of S.A.R.F.A.E.S.I. Act, 2002, there is no provision for permission in relation to action for auction sale under S.A.R.F.A.E.S.I Act. In the light of above the petition of the applicant Bank/Respondent Bank is not maintainable. Hence, dismissed in limine.
Record be consigned.
(Umesh Kumar Sharma) Presiding Officer DRT, Dehradun
03.04.2025