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Judgment
ORDER
This Appeal is filed against the order dated 04.07.2024 passed by the Learned Presiding Officer, DRT-I, Bengaluru in SA 688/2022.
By the said order, the Learned Presiding Officer dismissed the Securitisaton Application for non-prosecution. The order reads as follows:-
“None represented the matter, perused the records of the case.
It is noticed from the records that, the Appellant has not taken any steps, not turned up for hearings and absent during the last two hearing date and even today also.
Hence, it is construed that the Appellant is not interested to prosecute the case further.
Hence the SA is dismissed for default as well as non-prosecution.”
After filing the Appeal in AIR (SA) 1653/2025, the Appellant approached the Hon’ble High Court of Madras by filing Writ Petition in WP No. 37756/2025. The Hon’ble High Court directed that this Appeal be disposed of on the first date of hearing. This Appeal arose out of the order of dismissal for want of prosecution.
The Appeal is listed today after compliance with the requirement of pre-deposit and numbering.
From the aforesaid order of Learned presiding Officer, it could be seen that, this Appeal is filed only for not deciding the Securitisaton Application on merits. Therefore, this Tribunal is of the view that the impugned order is liable to be set aside for affording an opportunity to the Appellant for disposal of the SA on merits.
This Tribunal has gone through the Securitisaton Application and the reliefs sought therein. The prayers are as follows:
a)To set aside the impugned public auction dated 22.01.2021 of the schedule immovable property by the 1st respondent and also to set aside the bid and sale of the property for a sum of Rs.1,76,00,000/- in favour of the 2nd respondent.
b)Declare sale of the schedule immovable property by the 1st respondent bank which was the secured asset as illegal and bad in law.
c)Set aside the Sale Certificate registered as document No. RJN-1-00920/21-22 stored in CD No. RJND904 of Book-I in the office of the Senior Sub-Registrar, Rajajinagar, Bengaluru and registered on 10.06.2021 in favour of the 2nd respondent with respect to the schedule property.
d)Set aside the order dated 02.08.2022 passed by the V ACMM in Crl. Misc. 5918/2017 in respect of schedule property.
e)And grant such other and further reliefs as this Hon’ble Tribunal deems fit to grant under the circumstances of the case.
The Securitisation Application was filed on 03.10.2022. Thus, it is seen that the measures like sale of the property, issuance of a sale certificate and the order passed under Section 14 of the SARFAESI Act, 2002, were not challenged within the prescribed period of limitation. Therefore, the Learned Presiding Officer, DRT-I, Bengaluru, is directed to first consider the aspect of limitation while deciding the Securitisation Application, and thereafter, to decide the matter on other issues, and dispose of the same, in accordance with law, as expeditiously as possible.
In view of above, the Appeal in RA (SA):58/2026 is allowed by setting aside the order of Learned Presiding Officer, DRT-I, Bengaluru. SA 688/2022 shall be restored and be decided as indicated above. Both the parties shall bear their own costs. All pending IAs, if any, stand closed.