Debts Recovery Tribunals and Appellate Tribunals
M SELVAKUMAR vs INDIAN BANK on 21 October 2026
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IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
IA 1357/2026 (Delay) in A.IR:2463/2026
M Selvakumar V/S Indian Bank
21/10/2026
IA 1557/2026 (Adv. Hearing):
This advance hearing application is filed to advance the hearing of appeal from 26.10.2026 to an earlier date.
In view of the reasons stated in the affidavit filed in support of the advance hearing application, the hearing of the case is advanced to today. The Advance hearing application is allowed. IA 1357/2026 (Delay)
This application is filed for condoning the delay of 274 days in filing the appeal. This application was originally posted for hearing on 28.10.2026. As the advance hearing application filed by the petitioner in IA 1557/2026 is allowed, this application is taken up today. Proof of service of notice to the respondent in-person and through e-mail are produced, however, there is no representation for the respondent. Therefore, this application is taken up for hearing today. It is the submission of the learned senior counsel for the petitioner that SA 610/2025 had been filed to set aside the e-auction sale notice dated 16,05.2025 issued for recovery of Rs.17,86,000/- and when the securitization application is pending, petitioner was directed to make payment of Rs.5,00,000/- on or before 24.06.2025, which was accordingly paid. Thereafter, on the basis of the submissions made by the parties, learned Presiding Officer, DRT, Coimbatore directed the petitioner to discharge the secured debt in three equal instalments by the end of July, August and September 2025 without a single default. Further directions were also issued to the respondent Bank to put on hold all its further SARFAESI measures for facilitating the repayment. In case of non- compliance, liberty was given to the respondent to proceed further in pursuance of the sale notice and the order of the learned Chief Judicial Magistrate, Coimbatore passed in Crl.M.P.No.5201/2025. Accordingly, SA 610/2025 was disposed.
It is further submitted that in terms of the order of the learned Presiding Officer, DRT, Coimbatore, petitioner made payment of Rs.1,00,000/- on 30.07.2025 and a sum of Rs.2,00,000/- on 29.09.2025 and another sum of Rs.2,00,000/- on 30.09.2025 and also requested time till 10.10.2025 for the payment of entire balance amount, but, the Bank refused to receive the amount on the ground that payment was not made in time as directed by the Tribunal. Thereafter, the Bank proceeded to confirm the sale. In the said back ground, MA 168/2025 was filed for re-opening the SA 610/2025 for passing suitable orders in terms of the payment already made. The said MA was dismissed and therefore, this appeal. The value of the property is Rs.1.50 crore, but, it was sold for Rs.66,10,000/- as against the reserve price of Rs.45,10,000/-. After the dismissal of the MA 168/2025, petitioner approached the Hon’ble High Court of Madras by filing WP 18374/2026 and WP 46908/2025 with the prayer to condone the delay and receive the demand draft for Rs.7,86,000/- in respect of the dues. Those writ petitions were withdrawn with liberty to the petitioner to approach the competent forum. Thereafter, this appeal is filed. Due to prosecution of the writ petitions, there is a delay of 274 days in filing this appeal. Despite service of notice, there is no representation for the respondent. In view of the reasons stated by the learned senior counsel for the petitioner for the delay of 274 days in filing this appeal and the back ground with which, the order in MA 168/2025 was passed, this Tribunal is of the view that the petitioner should be given an opportunity to contest the appeal on merits. Therefore, the delay of 274 days in filing the appeal is condoned subject to payment of Rs.2500/- to the Library Fund of DRT & DRAT Bar Association on or before 04.11.2026. It is informed by the learned senior counsel for the petitioner that 25% of the amount due has already been deposited as pre-deposit. He also apprehended that if protection is not given, the respondent will take physical possession of the secured asset. In view of deposit of 25% of the debt due, as pre-deposit, the respondent is directed not to take steps for taking physical possession of the secured asset till next hearing. Post the matter on 06.11.2026. Sd/-
Chairperson