DART Allahabad Allowed Bank Appeal as Possession Notice Date Error Held Typographical

Punjab National Bank Vs Neelam Enterprises (DART Allahabad) The appeal before the Debts Recovery Appellate Tribunal, Allahabad, was filed by the bank under Section 18 of the SARFAESI Act, 2002, challenging the order dated 25 July 2022 passed by the Debts Recovery Tribunal in S.A. No. 296 of 2021. By the impugned order, the DRT had allowed the borrower’s securitisation application and set aside the bank’s recovery actions. The borrower firm had been granted a cash credit limit and a term loan of ₹15 lakh. The proprietor and other respondents stood as guarantors and created an equitable mo...