CITY UNION BANK LIMITED vs BALAJI STEEL AND PIPES on 29 October 2026

IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI

RA (S.A):93/2026

City Union Bank ltd V/S M/s Balaji Steels & Pipes & 2 ors 29/10/2026

Order pronounced (detailed order vide separate sheets) in open court.

This appeal is filed against final order passed in SA 568 of 2024 by the Learned Presiding Officer, DRT-I, Karnataka at Bengaluru on 27.2.2026.

On considering the rival submissions and records, this Tribunal finds that order under Section 14 of the SARFAESI Act, 2002 in Crl.M.P. No. 1774 of 2024 has been passed by the Learned 46th Additional Chief Judicial Magistrate at Bengaluru on substantial compliance of requirements under Section 14 of the SARFAESI Act, 2002. Minor omissions and lapses, technicalities, as detailed above, will not entitle the Respondents to seek the quashment of the order.

Therefore,

i) the order of the Learned Presiding Officer, DRT-I, Karnataka at Bengaluru is set aside in its entirety, and the SARFAESI measures taken so far are upheld.

ii) the order dated 13.9.2024 of the Learned 46th Additional Chief Judicial Magistrate at Bengaluru in Crl. M.P. No. 1774 of 2024 is confirmed.

Thus, this appeal RA (SA) 93 of 2026 is allowed.

Parties are directed to bear their own costs.

Pending IAs, if any, stand closed.

Sd/-

Chairperson