BEFORE THE DEBTS RECOVERY TRIBUNAL, MADURAI

I.A.No. of 2024
In
S.A.No. of 2024

Mrs.N.Shanthi,
Wo. Mr.I.Saravanan,
Flat No.3, Ground Floor,
"Vignesh Anchitha"
Veereshwaram Kalmethu Street,

Srirangam, Trichy - 620 006 . .. Petitioner/Applicant

-Vs-
I The Authorized Officer.
Indian Bank,
Trichy Main Branch,
No. 1 28, Big Bazaar Street,

Tiruchirappalli - 620008

2 Indian Bank,

Rep. by its Branch Manager,

Trichy Main Branch,

No. I 28, BigBazaar Street,

Tiruchirappalli - 620008 Re sp ondentslDefendants

AFFIDAVIT ON BEHALF OF THE PETITIONERS

I, N.Shanthi, Wo. Mr.I.Saravanan, Hindu, aged about 62 years and residing at

Flat No.3, Ground Floor, "Vignesh Anchitha" Veereshwaram Kalmethu Street,

Srirangam, Trichy - 620 006, now temporarily come down to Madurai, do solemnly
affirm and sincerely statcs as follows.

1. I am the Petitioner/Applicant herein and as such I am well acquainted with the

facts and circumstances of the case set out hereunder.

h-4r/\.1^
N.Shanthi
 2

2. It is submiued that the above application is filed seeking the following relief

i) To call for the records pertaining to the initiation of proceedings under the

Securitization and Reconstruction of the Financial Assets and Enforcement

of Security Interest Act,2002 ending up with Sale Notice dated 24.05.2024

against the applicant and the schedule of property on the hle of the
defendants and quash the same.

ii) To regularizethe loan account of the applicant.

iii) To pay the costs of the proceedings.

iv) To pass such further or other orders that may deem fit and proper in the
nafure and circumstances of the case.

The petitioner/applicant craves leave of this Hon'bleTribunal to read the

facts and grounds raised in the above application, as part and parcel of this

affidavit. The petitioner/applicant has filed the above application on the ground

that wrongful classification of NPA, demand notice not served to the applicant

and the gurantor, the possession notice and sale notice not properly published,

not properly affixed, not properly served to all the parties concerned, the person

who has issued the demand notice and possession notice and sale notice is not an

authorized officer as contemplated under the Act, non registration of transactions

before central registry, the sale notice not properly published in two dailies, sale

notice not properly affixed and not updated in the respondents official website,

there is no clear 30 days of sale in service and in publication of sale notice,

undervaluation, excess execution, and other grounds raised in the main

SARFAESI Application.

I submit that without prejudice to the reasons stated in the Memorandum of

a
J

Application the petitioner/applicant require some time to probe fuither into the

matter and have the issue solved. However in the mean time if the said property

t
N.Shanthi
 J

is physically taken and sold in the public auction the petitioner/ applicant would

be put to immense irreparable hardship and loss if the same were not averted at
this juncture. The respondents/defendants have fixed the E-Auction Sale on

30.03.2024. Hence the above application may be treated as an emergent case.

Unless this Hon'bleTribunal grants interim stay of all further proceedings of the

petitioner/applicant will be put to irreparable loss and hardship. The balance of

convenience therefore lies in favour ofgrant ofstay as prayed for.

It is therefore prayed that this Hon'bleTribunal be pleased to take up the above

application as an emergent case and thus render justice.

It is therefore prayed that this Hon'bleTribunal be pleased to Stay all further

proceedings pursuant to initiation of proceedings under the Securitization and
Reconstruction of the Financial Assets and Enforcement of Security Interest Act,2002

ending up with Sale Notice dated 24.05.2024 including taking physical possession of

the schedule properfy on the file of the defendants, pending disposal of the above SA

and pass such further or other orders and thus render justice.

\\Aa-,.Li
N.Shanthi

Solemnly affirmed at Madurai 0 BEFORE ME

on this the 10ft day of June. 0 G-}|*qr*lze7

2024; and signed her name in 0
tgLdN
my presence. 0
ADVOCATE, MADURAI
 BEFORE THE DEBTS RECOVERY TRIBUNAL, MADURAI
I.A.No. of 2024
In
S.A.No. of 2024

Mrs.N.Shanthi,
Wo. Mr.I.Saravanan,
Flat No.3, Ground Floor,
"Vignesh Anchitha"
Veereshwaram Kalmethu Street,

Srirangam, Trichy - 620 006 .. . Petitioner/Applicant

-Vs-
I The Authorized Officer,
Indian Bank,
Trichy Main Branch,
No. 1 28, Big Bazaar Street,

Tiruchirappalli - 620008

2 Indian Bank,
Rep. by its Branch Manager,

Trichy Main Branch,

No. 1 28, Big Bazaar Street,

Tiruchirappalli - 620008 Re sp ondents/D e fendants

STAY PETITION
FILED U/S 19(25) OF THE RDB ACT. 1993

For the reasons stated in the accompanying affidavit it is therefore prayed that

this Hon'bleTribunal may be pleased to Stay all further proceedings pursuant to

initiation of proceedings under the Securitization and Reconstruction of the Financial

Assets and Enforcement of Security Interest Act,2002 ending up with Sale Notice

dated 24.05.2024 including taking physical possession of the schedule property on the

file of the defendants, pending disposal of the above SA and pass such further or other

orders and thus renderjustice

 - /1--

DESCRIPTION OF THE OVABLE PROPERTY

(As mentioned in the Sale Notice)
SCHEDULE.A
Tiruchirapalli District, Srirangam Sub Reg. District, Srirangam Taluk,
Thimmarayasamudram Revenue Village, Veereswaram Kalmettu Street, Anna Nagar,
Old Ward No.l1, New Ward B, T.S.No.1826ll, Ac 0.1I cents, T.S.No.1844 Ac. 0.58
cents, T.S.No.1825, Ac 0.13 cents total Ac cents (35,000 Sq.ft) in this excluding area

gifted to the Municipal Corporation admeasuring on ground 193 feet 9 inches east
west on the North 187 feet east west on the south 192 feet 9 inches (6 feet 9 inches +
123 feet 6 inches 62 feet 6 inches) north south on the east and 197 feet north south on

the west bounded on the north by property gifted to Municipal Corporation in

T.S.No.l825, 1826ll and 1844 part and Thandavan Chettiar'sThope (Now
T.S.No.1824138, I827llA, and lB and 182714) on the East by Govindam Pillai's
Property (Now T.S.Nos.1826l2A, 1832, 1833, l834ll and 1835) on the South by
T.S.No.1843, l84lll and2, 184012, and 1839 and on the west by Veereswaram Road
CNow T.S.No.l843) total area32,882.75 Sq.ft).
_
SCHEDULE B
In the property described in schedule-A above an undivided interest in land of
1.88% equivalent in value to 600 Sq.ft (55.74 Sq.mtrs) with a residential flat house
building bearing Flat No.3 in the ground floor with super plinth area of 1200 Sq.ft in
the apartment known as "VIGNESH ANCHITHA" constructed on the entire A
schedule property above with electric service connection, meter, meter deposit,
underground drainage connection and its deposit together with proportionate rights and
interestin all common passages, pathways and amenities provided thereto and
undivided share in over head tank, electric meter, septic tank, one lift corporation
water connection and with all easement rights thereon.

Dated at Madurai on this the 1Oth day of June,2024

For VASTLAW ASSOCIATES

PARTNER

COUNSEL FOR PETITIONER

BEFORE THE DEBTS RECOVERY

TRIBUNAL AT MADURAI

I.A No. of2024

In
S.A.No. of 2024

STAY PETITION

NUs. VASTLAW ASSOCIATES

S.PAVALAMEENA
ADVOCATES
Counsel for Petitioner/Applicant