Debts Recovery Tribunals and Appellate Tribunals
M s Sathya Granites vs STATE BANK OF INDIA on 9 September 2026
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IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
Dated the 9th day of September, 2026
PRESENT: HON’BLE MR. JUSTICE G. CHANDRASEKHARAN
CHAIRPERSON
IA 560 of 2022 (Waiver) in AIR 140 of 2022
[arising out of MA 15/2021 in OA 278/2015 on the file of DRT-III, Chennai]
Between
1.
M/S. Sathya Granites
Rep. By Its Partner
Mr. P. K. Pounraj
No.69, Adhiyaman Bye-Pass Road,
Dharmapuri – 636 701
2.
Mr. P. K. Pounraj
S/o. P.M. Kuppusamy.
51, South Railway Road,
Kumarasamypet,
Dharmapuri – 636 703
3.
Mrs. P. Thilagavathi
Wife of Mr. P. K. Pounraj
51/5, South Railway Road,
Kumarasamypet,
Dharmapuri – 636 703
4.
M/S. PKP Minerals Pvt. Ltd.
Rep. By Its Managing Director
Mr. P. K. Pounraj
No.69, Adhiyaman Bye-Pass Road,
Dharmapuri – 636 701
5.
M/S. Shri PKP Spintex Mills Pvt. Ltd.
Rep. By Its Managing Director
51, South Railway Road,
Kumarasamypet,
Dharmapuri – 636 703
Also At:
M/S. Shri PKP Spintex Mills Pvt. Ltd
No.69, Adhiyaman Bye-Pass Road,
Dharmapuri – 636 701
…… Appellants
And
State Bank of India
Stressed Asset Management Branch
Represented By Mr. N. Ramadass,
Chief Manager,
Raja Plaza, 1st Floor, No.1112,
Avinashi Road, Coimbatore – 641037
…..Respondent
Counsel for Appellants
:
M/s. Tatva Legal
Counsel for Respondent
:
Mr. M. L. Ganesh
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ORDER
Learned Counsel for both sides are present.
2. Conditional order dated 7.8.2026 passed in the waiver application is not complied with.
3. Therefore, the waiver application in IA 560 of 2022 is dismissed for ‘non- compliance.’ Consequently, Appeal AIR No. 140 of 2022 is rejected.
4. Parties are directed to bear their own costs.
5. Pending IAs, if any, stand closed. Sd/- (JUSTICE G. CHANDRASEKHARAN) CHAIRPERSON