Debts Recovery Tribunals and Appellate Tribunals
R Ganesan vs The Authorised Officer M/s ASREC (India) Limited on 10 November 2026
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IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
R.A(S.A):3/2023
R.Ganesan V/S A.O.,Asrec India Ltd & Ors 10/11/2026
IA 1746/2026 (To Raise Additional Grounds):
Learned Counsel for Petitioner and 2nd Respondent are present.
This application is filed for receiving additional grounds in the appeal.
It is the submission of the Learned Counsel for Petitioner that SA No.163 of 2022 has been filed challenging the Section 14 order dated 11.11.2021 passed by the Learned Chief Judicial Magistrate, Tirupur in CMP No.542 of 2020. The ground that the secured asset is not registered with the Central Registry is not taken up in the Securitization Application. Therefore, this ground is sought to be taken as an additional ground in this appeal.
Learned Counsel for 2nd Respondent opposes this application on the ground that the Appellant is a third-party and his very entitlement of initiating SARFAESI proceedings is challenged. Therefore, this amendment is not to be permitted.
The issue with regard to the entitlement of the Appellant to maintain the SARFAESI application, along with other grounds already raised, will be taken up in the main appeal. The issue of non-registration of the secured asset with the Central Registry is a legal issue. There is a submission made by the Learned Counsel for 2nd Respondent that the loan was prior in point of time when the registration of the secured asset with the Central Registry is not mandatory in the year 2018.
Taking all these factors into account, this Tribunal is of the view that merely permitting an amendment of a legal ground does not mean that the ground is accepted. The Appellant should be given a fair opportunity to raise all the grounds that are available.
In this view of the matter, IA 1746 of 2026 (To Raise Additional Grounds) in RA (SA) 3 of 2023 is allowed.
Appellant is directed to make appropriate amendment in the appeal memorandum.
Learned Counsel for 2nd Respondent submitted that the CERSAI Registration was done subsequently and seeks permission for production of relevant documents.
Permission is granted to produce the documents relating to registration of the secured asset with the Central Registry.
Post the matter on 11.12.2026.
Sd/-
Chairperson