S.KRISHNAVENI Vs. INDIAN OVERSEAS BANK

JUDGEMENT

(1.) For the sake of convenience, the parties are referred to as per their ranking in the trial Court.

(2.) The case of the complainant in a nutshell is as follows:

(3.) Mr.S.Viswanathan, learned counsel for the petitioner would contend that the respondent viz., Indian Overseas bank had already initiated proceedings under the provisions of Securitization and Reconstruction of Financial Asset and Enforcement of Security Interest Act (in short SARFAESI Act) against the accused and two of her properties were brought for sale in public auction. His specific contention is that she had so far paid a sum of Rs.7,50,000.00 out of Rs.15,00,000.00 and is unable to pay the balance amount at present. It is also his submission that the complainant can realize the balance amount by auctioning her properties.