NUNNA SRINIVAS SUMANTH Vs. DEBTS RECOVERY APPELLATE TRIBUNAL

JUDGEMENT

(1.) The petitioners herein have questioned in this Writ Petition the order dt.05.09.2019 of the Debt Recovery Appellate Tribunal, at Calcutta (In-charge Debt Recovery Appellate Tribunal), Allahabad in Diary No.120 of 2019/184, dismissing the appeal preferred by petitioners against the order dt.12.04.2019 passed by the Presiding Officer, Debt Recovery Tribunal-II, Hyderabad, dismissing S.A.No.1246 of 2017 (Old S.A.No.406 of 2015).

(2.) The 4th respondent is the father of petitioners. He mortgaged premises bearing House No.12-13-161, admeasuring 900 Sq.yds., consisting of ground floor and 1st floor with a plinth area of 1500 Sq.ft., situate in Survey No.185 of Lalaguda Village, Tarnaka, Secunderabad to the 3rd respondent-Bank at Visakhapatnam to secure a loan granted by the said Bank to M/s.Shri Infratech. The 4th respondent was also a partner in the borrower firm.

(3.) Since the loan was not repaid in terms of the loan agreement, the 3rd respondent-Bank proceeded under the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (also known as the SARFAESI Act).