191090011012024_130e58f239ca167c6621f76dfa5aca74.pdf

Reportable / Non-reportable 
IN THE DEBT RECOVERY APPELLATE TRIBUNAL - KOLKATA 
HON'BLE Justice Anil Kumar Srivastava, Chairperson 
MISC. APPEAL No. 11 of 2025 
(Arising out of  S.A. No. 426 of 2024) 
22.04.2025  
                                                                                       
1. The Authorised Officer, Cholamandalam Investment & Finance 
Company Limited, 7J/1A/1. Kirtibas Mukherjee Road, 
Post 
Office-Ultadanga, 
Police 
Station-Ultadanga, 
Kolkata, West Bengal-700067. 
 
2. Cholamandalam Investment and Finance Company 
Limited, 
55/44/1, 
Chowringhee  
Road, 5th Floor, Chowringhee Court, opposite Nehru 
Children’s Museum, in Rabindra Sadan, Kolkata-
700071. 
... Appellants 
--Vs-- 
1. 
Rana 
Dey, 
son 
of 
Ratan 
Chandra 
Dey, 
7J/1A/1,    
KirtibasMukherjee Road, Post Office-Ultadanga, Police Station-
Ultadanga, Kolkata, West Bengal 700067. 
 
2. Shree Om Garments, 7J/1A/1, KirtibasMukherjee Road, Post 
Office-Ultadanga, 
Police 
Station-Ultadanga, 
Kolkata, West 
Bengal 700067. 
 
3. Krishna Biswas, wife of Rana Dey, 7J/1A/1, Kirtibas Mukherjee 
Road, Post Office-Ultadanga, Police Station-Ultadanga, Kolkata, 
West Bengal 700067. 
 
4  Sankar Nath Dey, son of late Prahllad Dey alias Prahlad Deyl 
residing at 7J/1A/1, KirtibasMukherjee Road, Post Office-
Ultadanga, Police Station-Ultadanga, Kolkata, West Bengal 
700067. 
 
                                                              
 
 
 ... Respondents 
For Appellant 
: Mr. Shaswat Nayak, ld. Adv.  
                              Mr. Amar Singh, ld. Adv. 
                              Mr. Yash Mahmia, ld. Adv. 

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For Respondent 
Nos. 1 to 3  
:    Mr. Nemani Srinivas, ld. Adv. 
                                 Mr. D. Basu Ray, ld. Adv. 
                                 Ms. Sharmistha Pal, ld. Adv.  
 
THE APPELLATE TRIBUNAL :  
1. 
Heard learned Counsel for the parties and perused the 
records. 
2. 
The instant appeal has arisen against an order dated 
22.11.2024 passed by Learned D.R.T.-III, Kolkata in S.A. 
No. 426 of 2024 (Rana Dey & Ors. vs. Cholamandalam 
Investment & Finance Co. Ltd. & Anr.) allowing the I.A. No. 
4399 of 2024 and I.A. No. 2030 of 2024. 
3. 
From the pleadings of the parties, it appears that a 
Securitization 
application 
under 
Section 
17 
of 
the 
Securitisation and Reconstruction of Financial Assets and 
Enforcement of Security Interest Act, 2002 (hereinafter 
referred to as “the Act”) was filed by the SARFAESI 
applicants, who are respondent to the appeal, challenging 
the order dated 12.06.2023 passed by the Chief Judicial 
Magistrate and, subsequently, order dated 03.01.2024 was 
also challenged by way of filing I.A. No. 2030 of 2024, 

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wherein it is stated that the order dated 03.01.2024 was 
passed against a dead person. Borrower, namely, Biswanath 
Dey, died on 19.07.2023. Secondly, learned Counsel, who 
filed the Securitization application, was appointed as an 
officer to take over the possession by the Chief Judicial 
Magistrate and thirdly,  that the possession was taken on 
23.09.2024 when the time for taking over possession has 
already been expired.  After filing of the I.A. 2020 of 2024, a 
supplementary affidavit was also filed by the SARFAESI 
applicants on 18.11.2024. 
4. 
Learned 
D.R.T. 
passed 
the 
impugned 
order 
on 
22.11.2024. At this stage, it is very pertinent to observe 
that no opposition was filed by the Financial Institution 
against the I.A. Even no oral opposition was made during 
the course of hearing, as would appear from the impugned 
order.  However, Learned D.R.T. recorded a finding to the 
effect that an inhouse Advocate of the defendant Financial 
Institution was appointed for taking over possession. The 
time for executing the order was not extended till 
23.09.2024, that is, the date of taking over the physical 
possession.  Biswanath Dey died on 19.07.2023 when the 

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initial order was passed by Chief Judicial Magistrate, Barasat 
on 12.03.2023. Hence, it co

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