Debts Recovery Tribunals and Appellate Tribunals
Mrs Thilagavathy properitor M/s Surya fules vs DBS BANK LIMITED on 11 November 2026
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IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
M.A(S.A):42/2026
Thilagavathy & Ors V/S DBS BANK LIMITED
11/11/2026
This appeal is filed against the order dated 21.11.2025 passed by the Learned Presiding Officer, DRT, Coimbatore in IA No. 5857 of 2025 in SA No. 1072 of 2025.
This SA has been filed to set aside the order passed by the Learned Chief Judicial Magistrate, Erode in Criminal MP No. 1141 of 2025 on 24.7.2025. Pending the SA, stay application in IA No. 5422 of 2025 had been filed. The Learned Presiding Officer, DRT, Coimbatore, taking into consideration the submissions of Learned Counsel appearing for the Applicants before the Tribunal to pay substantial amount to avert the dispossession of the secured asset, directed the appellant to pay a sum of Rs. 1 crore on or before 20.11.2025 and another Rs. 1 crore on or before 20.12.2025 with the direction to the respondent bank to defer assuming physical possession till the stipulated time for payment is over. Thereafter, IA No.5857 of 2025 has been filed to extend the time granted for payment, as per the conditional order dated 4.11.2025. The Learned Presiding Officer, DRT, Coimbatore partially allowed the application by extending the time up to 29.11.2025 to make the payment of first conditional amount of Rs.1.00 crore, failing which the Respondent Bank was given free hand to surge ahead in accordance with law. Aggrieved against this order, this appeal is filed.
SA No. 1072 of 2025, filed for challenging the order passed in Criminal MP No. 1141 of 2025 by the Learned Chief Judicial Magistrate, Erode, on 24.7.2025, is still pending. The DRT, Coimbatore has to adjudicate the case of the Appellants on its merits. At this stage, the pleadings and grounds raised in the Securitization Application cannot be taken up by this Tribunal, when it is not considered by the DRT, Coimbatore, so far.
Thus, this Tribunal is of the view that this appeal can be disposed by giving directions to the Learned Presiding Officer, DRT, Coimbatore to dispose SA No. 1072 of 2025 on merits and in accordance with law, as expeditiously as possible.
Accordingly, appeal MA (SA) 42 of 2026 is disposed with the above directions to the Learned Presiding Officer, DRT, Coimbatore.
Parties are directed to bear their own costs. Pending IAs, if any, stand closed.
Sd/-
Chairperson