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VIBHU BAKHRU, AMIT MAHAJAN
Idfc First Bank Limited – Appellant
Versus
Union of India – Respondent
JUDGMENT
Vibhu Bakhru, J.
1. The petitioner has filed the present petition impugning an order dated 20.06.2019 (hereafter `the impugned order') passed by the learned Debts Recovery Tribunal III, Delhi whereby, the petitioner's application under Section 13(10) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereafter `the SARFAESI Act') read with Rule 11 of the Security Interest (Enforcement) Rules, 2002 (hereafter ` the SIE Rules') for the recovery of balance amount of Rs.6,92,551.63 along with interest, was rejected on the ground that the same was less than Rs.10,00,000 and was therefore, not within the pecuniary jurisdiction of the learned Debts Recovery Tribunal - III.
2. The principal question to be addressed is whether the Debts Recovery Tribunal has the jurisdiction to entertain a claim for less than Rs.10,00,000/- under Section 13(10) of the SARFAESI Act.
Facts in Brief
3. The petitioner entered into a Loan Agreement on 30.12.2015 bearing Loan Account No. 4938084 for an amount of Rs.23,00,000 with respondent no.1 and 2. Thereafter, respondent no.1 and 2 created security interest in respect of the built up property c
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