Madras High CourtCRP/389/2017disposed of

Sgp Shri Enterprises v. Hdfc Bank Limited

2017-06-07Honourable Mr Justice Rmt. Teekaa Raman,Honourable Mr Justice Huluvadi G. Ramesh2 pages

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED : 07.06.2017

CORAM:

THE HON'BLE MR.JUSTICE HULUVADI G.RAMESH AND THE HON'BLE MR.JUSTICE RMT.TEEKAA RAMAN C.R.P.No.389 of 2017 and C.M.P.No.1751 of 2017

1. SGP Shri Enterprises, Rep. by its Proprietor, M.R.Govindan, 36, Sri Lakshmi Nagar, Kolapakkam, Chennai - 600 048.

2. G.Parameswari

3. M.R.Govindan ... Petitioners/Defendants 1 to 3 .. Vs ..

HDFC Bank Limited, "CEEBROS", 110, Nelson Manickam Road, 4th Floor, Aminjikarai, Chennai - 600 029.

Rep. by its Authorised Signatory Mr.P.Ramalingam ... Respondent/Applicant Prayer: Civil Revision Petition filed under Article 227 of the Constitution of India, against the order dated 10.01.2017 made in I.A.No.551 of 2016 in AIR No.493 of 2016 passed by the Debt Recovery Appellate Tribunal, Chennai.

For Petitioners : Mr.K.A.Ramakrishnan For Respondent :

Mr.T.K.M.Sai Krishnan

ORDER

(Order of the Court was made by HULUVADI G.RAMESH,J.) Heard the learned counsel appearing for the petitioners and the learned counsel appearing for the respondent-Bank. https://hcservices.ecourts.gov.in/hcservices/

2. It appears that in spite of time granted to the petitioners, they have not paid the EMI amount regularly. Hence, attachment of property was ordered. However, the submission of the learned counsel for the petitioners is that the amount ordered to be paid is in excess to what has been prayed for by the Bank due to which, the petitioners have made to suffer. Even if the machineries are attached, there is no such opportunity to pay the EMI amount.

3. In that view of the matter, further six months' time is granted to the petitioners to pay the EMI amount and after paying the EMI amount regularly, they can seek concession for the amount. There shall be an order of stay for attachment of machineries by the Bank subject to the result of the matter pending before the Debt Recovery Appellate Tribunal. With the above observation, this Civil Revision Petition is disposed of. No costs. The connected Miscellaneous Petition is closed.

Sd/- Asst.Registrar (CS VI) /true copy/ Sub Asst. Registrar Jrl To The Debt Recovery Appellate Tribunal, Chennai +1cc to M/s.K.A.Ramakrishnan, Advocate in sr.no.40500 +2cc to Mr.T.K.M.Sai Krishnan, Adovate in sr.no.40694 C.R.P.No.389 of 2017 KJ(CO) NR 03/07/2017 https://hcservices.ecourts.gov.in/hcservices/