DRAT Defers Possession, Orders ₹20 Lakh Deposit for Hearing of Securitisation Appeal

Rajeshwari Vs PNB Housing Finance Limited (DRAT Chennai) The appeal before the Debt Recovery Appellate Tribunal, Chennai challenged an interim order dated 07.08.2023 passed by the Debt Recovery Tribunal, Coimbatore in an application seeking condonation of a 41-day delay in filing a securitisation application. The appellant had filed the securitisation application against an order of the Chief Judicial Magistrate, Tiruppur, passed on a petition under Section 14 of the SARFAESI Act, 2002. When the delay condonation application was heard, the appellant offered to pay ₹20 lakhs to the responden...