SANDHYA PODDAR Vs. ALLAHABAD BANK

JUDGEMENT

(1.) CHALLENGE is to the order dated May 15, 2013 passed by the Hon 'ble Chairperson, Debts Recovery Appellate Tribunal in Appeal No.112 of 2013 thereby rejecting the prayer for stopping to sell of the immovable property to be held on June 1, 2013 on the ground that the said appeal was then yet to be admitted and the consideration of pre-deposit etc., under Section 18(1) of the SARFAESI Act, 2002 has not been decided till then.

(2.) IN a recovery proceeding by a secured creditor against the debtor, the question of title of a third party over the mortgaged property was the subject matter of consideration before the Debts Recovery Tribunal–II, Kolkata. The third party prayed for dismissal of the SARFAESI application pending before the Debts Recovery Tribunal-II, Kolkata and that application was rejected by the learned Tribunal by the judgment and order dated April 2, 2013.

(3.) NOW , the question is whether the impugned order should be sustained. Upon hearing the learned Counsel for the parties and on going through the materials on record, it appears that the debtor took a loan of Rs.10 lakh from the secured creditor, i.e., the bank/opposite party herein by mortgaging the property in case by giving declaration that she was the owner of the entire property to be mortgaged.