High Court directs DRT to expeditiously decide stay petitions in SARFAESI proceedings.

JUDGMENT

Heard the learned counsel for the petitioners as well as the learned Standing Counsel for the respondents.

2. The petitioners have filed Ext.P1 Securitisation Application along with Exts.P2 and P5 stay petitions before the Debts Recovery Tribunal – I, Ernakulam. The learned counsel for the petitioners states that, on 01.04.2026 - the date on which the stay petitions were posted - the Debts Recovery Tribunal - I, Ernakulam was on leave on account of which the petitioners were not able to obtain orders on the stay petitions.

3. The learned Standing Counsel for the respondents, however, would state that on the earlier posting before this Court, the petitioners had undertaken to make a deposit of Rs.10 Lakhs, which the petitioners have not complied with.

4. The learned counsel for the petitioners disputes these submissions.

In any event, since the matter is pending consideration before the Debts Recovery Tribunal – I, Ernakulam, I dispose of the original petition directing the Debts Recovery Tribunal – I, Ernakulam to consider and pass orders on Exts.P2 and P5, as expeditiously as possible, at any rate, within a period of three weeks from today.