S ANURADHA Vs. REGISTRAR

JUDGEMENT

(1.) O.A.No.29 of 2012, has been instituted by Small Industries Development Bank of India, Chennai, against the third and fourth respondents, before the Debts Recovery Tribunal - I, Chennai, for recovery of dues, in which the subject property, which belongs to the third respondent, was mortgaged. Vide order, dated 31/12/2012, Debts Recovery Tribunal - I, Chennai, issued recovery certificate, in D.R.C.No.124 of 2013, in favour of the second respondent.

(2.) D.R.C.No.124 of 2013, dated 8/12/2013, in O.A.No.29 of 2012, has been issued by the Presiding Officer of Debts Recovery Tribunal - I, and Notice of Demand, dated 1/1/2014, was issued by the Recovery Officer.

(3.) Material on record discloses that, as on 22/9/2016, a sum of Rs.2,71,17,790.10 (as per cost memo, dated 22/9/2016 filed by the Certificate Creditors), was due. Therefore, Recovery Officer, Debts Recovery Tribunal - II, in D.R.C.No.93 of 2014, dated 13/10/2016, has issued E-auction sale, Proclamation Sale, under Rule 52 (2) of Second Schedule to the Income Tax Act, 1961, r/w. Sections 25 to 29 of RDDB & FI Act, 1993.