BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT : MUMBAI Present: Mr. Justice Ashok Menon, Chairperson Appeal No.291/2009 Between Bank of Baroda … Appellant/s V/s.

E-star Infotech Ltd. & Anr. …Respondent/s Mr Anant B. Shinde, Advocate for Appellant Bank.

Mr Barsha Parulekar, Advocate for Respondents.

-: Order dated : 10/01/2025 :-

The Bank of Baroda is aggrieved by the judgment dated 06/11/2009 of the Debts Recovery Tribunal-II, Mumbai allowing Securitisation Application (S.A.) No. 41 of 2009 quashing the measures initiated by the appellant under the provisions of the Securitisation & Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (“SARFAESI Act”, for brevity) against the respondents for recovery of the debt allegedly due from them.

2. The facts necessary for the disposal of this appeal can be encapsulated thus:

The respondents are the borrowers/mortgagors who had borrowed money from the appellant bank and defaulted in repayment. The account was classified as a non-performing asset (NPA), and a demand notice was issued under Sec. 13 (2) of the SARFAESI Act on 28/12/2005 demanding ₹70,84,537/- and intending to proceed against the secured asset. The resp