Debts Recovery Tribunals and Appellate Tribunals
G Sarathy vs indian bank on 16 September 2026
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IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
R.A(S.A):144/2017
G.Sarathy V/S Indian Bank & Ors
16/09/2026
Order pronounced (vide separate common order) in open court. This dispute has to be adjudicated as required under Section 11 of the SARFAESI Act, 2002. Therefore, this Tribunal directs Respondents 1 to 3 to agree on a mutually acceptable arbitrator or approach the appropriate authority for appointing an arbitrator to decide the matter by arbitration as provided under the Arbitration and Conciliation Act, 1996. The sale in favour of the Appellant and the rights accrued out of sale, are confirmed. If the Appellant is in possession of the secured asset, such possession is also protected. Accordingly, the Appeals in RA (SA) 144/2017 and RA (SA) 70/2019 are disposed of. Both the parties shall bear their own costs. All pending IAs, if any, stand closed.
Sd/-
Chairperson