EQUITAS SMALL FINANCE BANK ITS REP AUTHOURISED T SURENDHIRAN vs KUPPUSAMY R — 152/2026

CASE SUMMARY: Cr.M.P. No. 152/2026 The Chief Judicial Magistrate of Tiruvarur allowed Equitas Small Finance Bank's petition under Section 14 of the SARFAESI Act 2002 to take possession of mortgaged property. The respondents had defaulted on a home equity loan of Rs. 2,50,000, accumulating an outstanding amount of Rs. 2,28,834 as of January 21, 2026, despite demand and possession notices issued in October 2024 and February 2025. Finding the bank had complied with statutory requirements under Sections 13(2) and 13(4) of the SARFAESI Act, the court appointed an Advocate Commissioner to take physical possession of the mortgaged property (1962 sq.ft. at Moovarkottai) with police assistance, fixing a commissioner fee of Rs. 30,000 payable by the bank. This case analysis is maintained by casestatus.in based on publicly available court records.