Debts Recovery Tribunals and Appellate Tribunals
Z MOHAMED ABDUL KALAM vs TAMILNAD MERCANTILE BANK LIMITED on 9 June 2025
IN THE DEBTS RECOVERY TRIBUNAL AT MADURAI
DATED THIS 09th DAY OF JUNE, 2025
PRESENT: SEEMA SINHA
[PR. DISTRICT & SESSIONS JUDGE - Retd]
PRESIDING OFFICER
M.A.No.213/2025 (Stay)
in
SA No.644/2023
Between
Mr.Z.Mohamed Abdul Kalam,
S/o Zaheer Hussain,
No 59 Va igai Colony, Anna Nagar
Madurai District 625020
…Petitioner/Applicant
Vs
1. The Authorized Officer,
Tamil Nadu Mercantile Bank Ltd,
Regional Office Madurai
No30, Besant Road, China Chokkikulam
Madurai District 625002
2. The Branch Manager
Tamil Nadu Mercantile Bank Ltd,
80 Feet Road, Near Honda Show Room
K.K.Nagar,
Madurai District 625020
…Respondents/Defendants
Appearance of Advocate:
Mr. Ramachandran
---- Counsel for the Applicant
Mr. R.M. Ajay Parthiban ---- Counsel for the Defendants Bank
MA No.213/2025 (Stay) was heard in the presence of Counsel for Applicant and Counsel for Respondents and upon hearing the arguments of the counsels and having stood over for consideration till this day, this Tribunal delivered the following:
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O R D E R
Without going into merits, considering the submissions of both sides’ counsels, Ad-Interim stay is granted to the Respondent Bank to proceed with the sale but not to confirm the sale till pursuant to the sale notice dated 29.04.2025, with respect to the petition schedule mentioned property, if the sale is so held, subject to payment of the entire suit amount (i.e.,Rs.8,21,745.29/-) in 4 equal installments (Last installment with subsequent interest and cost) directly to the 2nd Respondent Bank as mentioned here under:
However, in the event of failure to pay any one of the installments as ordered above, the Respondents are at liberty to proceed further and the Stay shall stand vacated automatically. If the Petitioner complies with the order, the stay granted shall be made absolute, pending disposal of the SA. For filing Proof of payment by the Applicant and for filing Vakalath, Reply Statement and Typeset of Papers by D-1 & D-2, call on 14.10.25. (Dictated to Varshini, taken down, transcribed, typed by her, corrected and pronounced by me in the open court this the 09th June, 2025)
Sd/- (SEEMA SINHA) PRESIDING OFFICER
Installment Date (on or before) Amount 1st installment 09.07.2025 Rs.2,06,000/- 2nd installment 11.08.2025 Rs.2,06,000/- 3rdinstallment 11.09.2025 Rs.2,06,000/- 4th instalment 13.10.2025 Rs.2,03,745/- (+ subsequent interest and cost)