Debts Recovery Tribunals and Appellate Tribunals
CENTRAL BANK OF INDIA vs Ms Borg Energy India P Ltd on 23 October 2026
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IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
IA 1035/2026 (Stay) in R.A(S.A):167/2026
Central Bank of India & anr V/S M/s Borg Energy India P ltd & 3 ors 23/10/2026
This application is filed seeking to grant Stay of the order dated 24.11.2025 of the learned Presiding Officer, DRT, Madurai, in SA 64/2016. The endorsement made by the learned Registrar of DRAT shows that notice taken to the first respondent was returned with an endorsement “addressee left without instructions”. Notice taken to respondents 2 to 4 have also been returned with an endorsement “no such addressee”. Even in the condone delay application, notice has been taken and paper publication was also effected, but, none appeared. Therefore, service held sufficient. Respondents 1 to 4 are called absent and set ex- parte. Learned counsel for the petitioners-appellants submits that SA 64/2016 was allowed on the ground that no mortgage was created in respect of properties concerned in this case. On the other hand, the respondents admitted in their counter affidavit about the offering of the properties as collateral securities apart from personal guarantees furnished by R2 to R4. The reading of the order of the learned Presiding Officer, DRT, Madurai shows that the Bank has not produced any document in support of creation of equitable mortgage by deposit of title deeds and that was the reason for concluding that creation of mortgage was not established. In the said circumstances, learned counsel for the appellant-Bank is directed to produce necessary documents for creation of equitable mortgage by deposit of title deeds or simple mortgage for grant of Stay. Post the matter on 10.12.2026 for arguments.
Sd/-
Chairperson