Phoenix Arc Pvt Ltd v. M/S Samarpana Charitable Trust

CMP No.6040 of 2024 in OSA SR No.8560 of 2024 R.SUBRAMANIAN , J.

and R.SAKTHIVEL, J.

(Order of the Court was made by R.SUBRAMANIAN,J.) The petitioner seeks leave to file an Appeal against the order granting permission to the first respondent to alienate the property to the Chennai Metro Rail Project. The petitioner claims to be a secured creditor. The petitioner is backed by SARFAESI Act. All powers are vested with the petitioner to take appropriate proceedings under SARFAESI Act. If there is a mortgage in respect of the property in favour of the petitioner, it is well open to the petitioner to realise the monies under the mortgage either by approaching the Debt Recovery Tribunal or by invoking SARFACIE Act. This order will not stand in the way. Hence this application is dismissed.

[R.S.M., J.] [R.S.V., J.] 18.03.2024 jv https://www.mhc.tn.gov.in/judis Page No.1/1