ANTONY MARIA INDIRA vs STATE BANK OF INDIA on 28 October 2026

IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI

IA 1552/2026 (Waiver) in A.IR:2911/2026

Antony Maria Indira V/S State Bank of India & Anr 28/10/2026

Learned Counsel for the Petitioner/Appellant is present.

This appeal is filed against order passed in IA 4128 of 2026 in SA 742 of 2026 by the Learned Presiding Officer, DRT, Madurai on 25.9.2026.

SA 742 of 2026 has been filed to quash the order passed by the Learned Chief Judicial Magistrate, Thoothukudi on 20.7.2026 in Crl. M.P. No.1472 of 2026 under Section 14 of the SARFAESI Act, 2002, and for other reliefs.

It is submitted that Petitioner filed IA 3659 of 2026 for staying further proceedings. Learned Presiding Officer, DRT, Madurai passed a conditional order of stay ordering stay of part of the order passed under Section 14 of the SARFAESI Act, 2002 by the Learned Chief Judicial Magistrate, Thoothukudi, subject to payment of the loan amount in six instalments. Since the Petitioner was not able to make the payment as per the timelines given, Petitioner filed IA 4128 of 2026 praying for extension of time of one month to comply with the first instalment of the conditional order passed in IA 3659 of 2026. That Interlocutory Application was rejected, and therefore, this appeal is filed.

It is the further submission of the Learned Counsel for Petitioner that Petitioner is neither a borrower or a guarantor and she is the wife of the borrower Mr. Antony Arulmoses. He availed loan facility in the year 2015 and was regular in EMI payment. In the year 2022, a marital discord arose between the Petitioner and her husband, resulting in filing of maintenance case in MC No.7 of 2023 on the file of Munsif-cum-Judicial Magistrate Court, Ottapidaram and DVC No. 8 of 2025 before the same court. The maintenance application was allowed on 29.9.2026. The DVC case is still pending. Petitioner is residing in the property, along with two children. Meanwhile, Respondent Bank is trying to take physical possession of the secured asset. Therefore, this appeal is filed, along with the waiver application. On these grounds, Learned Counsel for Petitioner seeks waiver of pre-deposit. No other ground is urged in support of waiver of pre-deposit.

Despite service of notice to the Respondent Bank, there is no representation for the Respondent Bank on 27.10.2026, and today. Therefore, this Tribunal proceeds to dispose the waiver application.

Admittedly, Petitioner is neither a borrower nor a guarantor but she is the wife of the borrower. Whether, as the wife of the borrower, Petitioner can entertain, rather challenge, the SARFAESI proceedings is a question that looms large in this case, and this question will be decided in the main appeal. Pre-deposit is mandatory for entertaining this appeal under Section 18(1) of the SARFAESI Act, 2002.

Since there is no representation for the Respondent Bank, this Tribunal is not able to ascertain the current due, with subsequent interest, as on the date of filing this appeal.

As per the order passed by the Learned Presiding Officer, DRT, Madurai in the stay application, the amount due was shown as Rs.27,39,936/-. The property is not sold so far. Therefore, with a view to given an opportunity to the Petitioner to pay the loan amount on behalf of her husband and save the property from being sold or taken physical possession, this Tribunal directs the Petitioner to make a pre-deposit of 25% of Rs.27,39,936/- in two equal instalments within a period of four weeks from now, failing which this appeal would stand rejected.

25% of Rs.27,39,936/- comes to Rs.6,84,984/-, out of which the first instalment of Rs.3,42,492/- to be made on or before 11.11.2026, and the second instalment of Rs.3,42,492/- to be made on or before 25.11.2026.

The said pre-deposit should be made in the form of Demand Draft in favour of Registrar, DRAT, Chennai, payable at Chennai. In case pre-deposit is made within the stipulated period, Registrar shall invest the same in a Nationalized Bank for a reasonable period and renew it periodically, till further orders are passed.

Post the matter on 27.11.2026 for compliance.

Sd/-

Chairperson