The Court emphasized the need for timely resolution of pending applications under the SARFAESI Act.

BASANT BALAJI J ======================

OP (DRT) No.429 of 2025 ========================

Dated 20^th day of February 2026 JUDGMENT The Original Petition is filed by the defendant in S.A. No. 769 of 2023 pending before the Debts Recovery Tribunal-I, Ernakulam. The said S.A. was filed by the respondent herein challenging the proceedings initiated by the petitioner under Sections 13 (2) and 13(4) and 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act , 2002.

2. The Debts Recovery Tribunal-I, Ernakulam, by order dated

04.06.2024 in I.A. No.2040 of 2024 in S.A. No.769 of 2023, directed the borrower to remit an amount of Rs.9,00,000/- (Rupees Nine Lakhs Only) in two instalments as a condition for grant of stay. The said condition was duly complied with, and consequently, the loan account was regularised. In view of the regularisation of the account, the measures initiated under Sections 13 (2) and 13(4) of the SARFAESI Act, as well as the consequential order, have become practically infructuous. However, S.A. No.769 of 2023 is still pending and has been adjourned from time to time.

3. In the above circumstances, the petitioner has approached this Court seeking a direction to the Debts Recovery Tribunal-I, Ernakulam to take up S.A. No.769 of 2023 and dispose of the same within a time frame.

4. A report was called for from the Debts Recovery Tribunal-I, Ernakulam and, as per the report dated 02.01.2026, it is stated that the Tribunal requires at least two months’ time for disposal of the said S.A. Taking note of the fact that the interim order passed in the S.A. has been complied with and that the measures initiated under Sections 13 (2), 13(4) and 14 of the SARFAESI Act, have practically become infructuous, I direct the Debts Recovery Tribunal-I, Ernakulam to take up the S.A. on the next posting date, which is scheduled on 06.03.2026, and dispose of the same, if the facts stated in the O.P. (DRT) are found to be true and correct.

The original petition is disposed of as above.

Sd/-