State Bank of India vs Sri Vetrivel Traders — 1949/2024

PETITION ALLOWED The Chief Judicial Magistrate court at Srivilliputhur allowed State Bank of India's petition under the SARFAESI Act seeking court assistance to take physical possession of four mortgaged properties. The court found that the borrower and guarantors defaulted on a Rs.4.98 crore loan facility (outstanding dues Rs.3.87 crore as of May 2024), and that the bank had properly complied with all statutory procedures including demand notice and possession notice. An Advocate Commissioner was appointed to take inventory, secure physical possession of the properties, and hand them over to the bank. This case analysis is maintained by casestatus.in based on publicly available court records.