Canara Bank vs Ms P S Traders — 23/2026

Case under Securitisationandreconstructionoffinancialassets&enforcementofsecurityinterestact Section SARFAESIAct2002. Status: Await Reports. Next hearing: 02nd April 2026.

Await Reports Next hearing 02-Apr-2026 this date has passed

CRLMP - Criminal Miscellaneous Petition

CNR: TNPB020048632025

e-Filing Number

29-10-2025

Filing Number

4581/2025

Filing Date

12-Dec-2025

Registration No

23/2026

Registration Date

07-Jan-2026

Court

Chief Judicial Magistrate Court, Perambalur

Judge

3-Chief Judicial Magistrate

Last updated 18-Mar-2026

Acts & Sections

Securitisationandreconstructionoffinancialassets&enforcementofsecurityinterestact Section SARFAESIAct2002

Petitioner(s)

  1. 1.Canara Bank

    Adv. Revathi R.R

Respondent(s)

  1. 1.Ms P S Traders

Case History

  1. 02-Apr-2026

    Next hearingPending

  2. 13-Mar-2026

    Copy of Judgment/OrderView PDF

    Summary: The petition filed by Canara Bank under Section 14 of the SARFAESI Act 2002 for appointment of an Advocate Commissioner to take physical possession of mortgaged property is allowed. The court found that the bank had complied with all mandatory requirements under the SARFAESI Act, including issuance of demand notice on 23.12.2024 and publication in newspapers on 28.03.2025, and respondents failed to repay an outstanding loan of Rs.61,41,470.85. Advocate K. Ramesh is appointed as Advocate Commissioner with remuneration of Rs.15,000 to assist the bank in taking physical possession and must file a detailed report within 3 weeks. This case analysis is maintained by casestatus.in based on publicly available court records.

  3. 13-Mar-2026

    Await Reports

    Chief Judicial Magistrate

  4. 06-Mar-2026

    Arguments

    Chief Judicial Magistrate

  5. 27-Feb-2026

    Arguments

    Chief Judicial Magistrate

  6. 13-Feb-2026

    Arguments

    Chief Judicial Magistrate

  7. 06-Feb-2026

    Arguments

    Chief Judicial Magistrate

  8. 30-Jan-2026

    Arguments

    Chief Judicial Magistrate

  9. 07-Jan-2026

    First hearing

    Initial hearing scheduled

  10. 12-Dec-2025

    Case filed

    Registration No. 23/2026

casestatus.in Summary

Summary: The petition filed by Canara Bank under Section 14 of the SARFAESI Act 2002 for appointment of an Advocate Commissioner to take physical possession of mortgaged property is allowed. The court found that the bank had complied with all mandatory requirements under the SARFAESI Act, including issuance of demand notice on 23.12.2024 and publication in newspapers on 28.03.2025, and respondents failed to repay an outstanding loan of Rs.61,41,470.85. Advocate K. Ramesh is appointed as Advocate Commissioner with remuneration of Rs.15,000 to assist the bank in taking physical possession and must file a detailed report within 3 weeks. This case analysis is maintained by casestatus.in based on publicly available court records.

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