Back
IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD
MOUSHUMI BHATTACHARYA, B.R.MADHUSUDHAN RAO
V. Ravi Kumar – Appellant
Versus
A.P.Mahesh CoOperative Urban Bank Ltd – Respondent
ORDER :
Moushumi Bhattacharya, J.
The petitioner has challenged an order dated 10.05.2024 passed by the Debts Recovery Appellate Tribunal, at Kolkata (‘DRAT’) in Miscellaneous Appeal No.35 of 2023 filed by the respondent Bank from an order dated 05.07.2023 passed by the Debts Recovery Tribunal – II, at Hyderabad (‘DRT’) in I.A.No.885 of 2023 in S.A.No.425 of 2019.
2. The DRT passed the order dated 05.07.2023 in I.A.No.885 of 2023 in S.A.No.425 of 2019 filed by the petitioner for making payment of the outstanding amount mentioned in the Demand Notice dated 04.10.2016 minus the payments made by the petitioner after receipt of the Demand Notice at the rate of 6% interest from the date of the Demand Notice till realization of the amount mentioned thereof. By the impugned order dated 10.05.2024, which forms the subject matter in the present writ petition, the DRAT set aside the order passed by the DRT and allowed the Appeal filed by the respondent Bank.
3. The petitioner, represented by learned Senior Counsel, argues that the DRAT erred in interfering with the order passed by the DRT since the latter has the power to reduce the rate of interest under the provisions of The Securitisation and
The DRT has the authority to reduce future/pendente lite interest under the SARFAESI Act, which was upheld by the court as necessary for facilitating loan repayment.
The review of orders under the SARFAESI Act is limited to correcting errors apparent on the record and cannot be used to re-hear matters or consider new evidence.
Challenges to measures under the SARFAESI Act must be brought before the DRT under Section 17, and the Civil Court's jurisdiction is ousted in such matters.
As a result of judicial pronouncement of this Court, it would amount to judicial impropriety to say the least, for the subordinate courts including the High Courts to ignore the settled decisions and....
The court affirmed that statutory rights to challenge measures under the SARFAESI Act cannot be extinguished by writ issuance, directing the appellant to pursue remedies before the Debt Recovery Trib....
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
