DRAT Set Aside SARFAESI Auction for Failure to Serve Possession & Sale Notices Properly

Canara Bank Vs Antriksh Builders & Developers Pvt. Ltd (DRAT Allahabad) The appeal before the Debts Recovery Appellate Tribunal (DRAT), Allahabad, was filed under Section 18 of the SARFAESI Act, 2002, challenging the order dated 14.09.2023 passed by the DRT, Lucknow, which had allowed the borrower’s securitisation application and set aside the Bank’s SARFAESI measures. The borrower, a private limited company, had availed credit facilities from the Bank, secured by guarantees executed by individual guarantors and a corporate guarantor, along with an equitable mortgage created over immo...