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DEBT RECOVERY APPELLATE TRIBUNAL
ANIL KUMAR SRIVASTAVA, Chairperson
Kotak Mahindra Bank Limited – Appellant
Versus
Camellia Educare Trust – Respondent
| Table of Content |
|---|
| 1. challenge to drt order on maintaining status quo. (Para 1 , 2 , 3) |
| 2. background on loans provided to the charitable trust. (Para 4 , 5 , 6) |
| 3. court's observation on the legal provisions and their application. (Para 8 , 9 , 16 , 18 , 20 , 22) |
| 4. arguments against the drt's decision by both parties. (Para 10 , 11 , 12 , 13) |
| 5. establishing the criteria for management take-over. (Para 19 , 21 , 23) |
| 6. final directions and appeal resolution. (Para 26 , 27) |
JUDGMENT : 24'h February, 2026 THE APPELLATE TRIBUNAL:
1. Instant appeal has been preferred against the order and Judgment dated 9.11.2021 passed by the Learned DRT- III, Kolkata in I.A. 3018 of 2021 arising out of S.A. 560 of 2021 whereby the Learned DRT allowed the I.A. and directed the parties to maintain status quo with a further direction to withdraw the impugned notice published on 28.10.2021.
2. Appellants are the opposite party in the S.A. 560 of 2021 filed by the Respondents under Section 17 of the SARFAESI Act.
3. Respondents herein filed a Securitization Application under Section 17 of the SARFAESI Act, 2002 (hereinafter referred to as the ‘Act’) challenging the Notice under Section 13 (4) read with Section 15
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