Debts Recovery Tribunals and Appellate Tribunals
M s Shri PKP Spintex Mills PVT LTD 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 562 of 2022 (Waiver) in AIR 141 of 2022
[arising out of MA 54/2020 in OA 443/2015 on the file of DRT-III, Chennai)
Between
1.
Shri PKP Spintex Mills Pvt. Ltd.
Rep. By Its Managing Director,
Mr. P. K. Pounraj
51, South Railway Road,
Kumarasamypet,
Dharmapuri – 636 703
Also At:
M/s. Shri PKP Spintex Mills Pvt. Ltd.
2.
Mr. P. K. Pounraj
Managing Director
Shri PKP Spintex Mills Pvt. Ltd.
51, South Railway Road,
Kumarasamypet,
Dharmapuri – 636 703
3.
Mrs. P. Thilagavathi
Wife of Mr. P. K. Pounraj
Director, Shri PKP Spintex Mills Pvt. Ltd.
51/5, South Railway Road,
Kumarasamypet,
Dharmapuri – 636 703
4.
PKP Minerals Pvt. Ltd.
Rep. By Its Managing Director
Mr. P. K. Pounraj
5.
Sathya Granites
Rep. by its Partner
Mr. P. K. Pounraj
…… Appellants
And
1.
State Bank of India
Stressed Asset Management Branch
Represented By Mr. N. Ramadass,
Chief Manager
Raja Plaza, 1st Floor, No.1112,
Avinashi Road, Coimbatore – 641 037
2.
Asset Reconstruction Company (India) Ltd (Assignor of State Bank of Mysore)
“The Rube”, 10th Floor,
29, Senapati Bapat Marg,
Dadar (West), Mumbai – 400 028
….. Respondents
Counsel for Appellants
:
M/S. Tatva Legal
Counsel For Respondents :
M/s. 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 562 of 2022 is dismissed for ‘non- compliance.’ Consequently, Appeal AIR No. 141 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