Debts Recovery Tribunals and Appellate Tribunals
Ms JVB Civil Works vs Jana Small Finance Bank Limited on 11 November 2026
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IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
M.A(S.A):64/2026
JVB Civil Works V/S Jana Small Finance Bank ltd 11/11/2026
This appeal is filed against the order passed by the Learned Presiding Officer, DRT-III, Chennai in IA No. 1172 of 2026 filed for staying the further proceedings in SA No. 366 of 2026. By the said order, the Learned Presiding Officer, DRT-III, Chennai disposed the stay application as infructuous for the reason that sale was already held on 22.12.2025, 4confirmed on 23.1.2026 and sale certificate was also issued on 23.1.2026. It was also recorded that physical possession of the secured asset was taken on 17.2.2026 and handed over to the auction purchaser on 25.2.2026, though this was disputed by the appellant by stating that appellant is still in possession of the secured asset.
SA No. 366 of 2026, filed to set aside the impugned auction sale notice dated 3.12.2025 and impugned sale held on 22.12.2025 is still pending. The Securitization Application has been filed challenging the sale notice and sale, raising several grounds. Those grounds have to be adjudicated by the Learned Presiding Officer, DRT-III, Chennai, before this Tribunal can consider those grounds.
Since the appeal filed is only against an interim order disposing the stay application as infructuous, this Tribunal is of the view that this appeal can be disposed by giving directions to the Learned Presiding Officer, DRT-III, Chennai to dispose SA No.366 of 2026 on merits and in accordance with law, as expeditiously as possible.
Accordingly, appeal MA (SA) 64 of 2026 is disposed with the above directions to the Learned Presiding Officer, DRT-III, Chennai.
The issue with regard to possession of the secured property has to be adjudicated before the Learned Presiding Officer, DRT-III, Chennai.
The status quo already granted, if any, is extended for a period of one month from today. Then it is for the Learned Presiding Officer, DRT-III, Chennai to consider extension or non-extension.
Parties are directed to bear their own costs.
Pending IAs, if any, stand closed.
Sd/-
Chairperson