G. Muralidharan vs TAMILNAD MERCANTILE BANK LIMITED on 29 October 2026

IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI

M.A(S.A):29/2026

G Muralidharan V/S Tamilnad Mercantile Bank Ltd 29/10/2026

This appeal is filed against the interim order dated 17.10.2025 passed by the Learned Presiding Officer, DRT, Madurai in the stay application in IA 4148 of 2025 in SA No. 843 of 2025.

When the matter was taken up on 16.10.2026, there was no representation for the Appellant. Therefore, this Tribunal posted this matter today, as a last chance for arguments. It was made clear that failing to appear on behalf of the Appellant and argue the appeal would result in passing appropriate orders.

Learned Counsel for Respondent submits that the SA No. 843 of 2025 filed for setting aside the e-auction sale notice dated 10.9.2025 is still pending and requests that this appeal may be disposed.

Despite the directions, today also, there is no representation for the Appellant. Therefore, this Tribunal proceeds to dispose this appeal.

As already recorded, IA 4148 of 2025 was filed for staying further proceedings, The Learned Presiding Officer, DRT, Madurai passed conditional order directing the Petitioner to make 20% of the claim amount of Rs.19,81,850.01p in three equal instalments within a time-bound manner. Without complying any part of the conditional order, this appeal is filed.

SA No. 843 of 2025 filed for setting aside the e-auction sale notice dated 10.9.2025 is still pending. The grounds raised in the Securitization Application have to be considered by the Learned Presiding Officer, DRT, Madurai first, before this Tribunal consider those grounds in the appeal, if any, that may be filed in the future.

It is also informed by the Learned Counsel for Respondent that in view of non-compliance of the conditional order, the sale was held but yet to be confirmed. The confirmation of the sale is pending because of operation of the stay order.

In the light of the reasons recorded, this Tribunal dispose this appeal by giving direction to the Learned Presiding Officer, DRT, Madurai to dispose SA 843 of 2025, as expeditiously as possible, on merits and in accordance with law.

Interim order of stay, granted by this Tribunal on 9.3.2026, and DRT, Madurai on 17.10.2025, are vacated.

Parties are directed to bear their own costs.

Pending IAs, if any, stand closed.

Sd/-

Chairperson