Yes Bank Limited v. Pax Hygiene Pvt. Ltd.
Case brief
What is this about?
Judicial direction to Debts Recovery Tribunal-I, Mumbai Presiding Officer to conclude hearing and decide stay application expeditiously; repeated adjournments of Interim Application No. 896 of 2025 in Securitisation Application No. 86 of 2025 on pretext of requiring clarification on argument notes; writ direction for reasoned order by DRT; expedited adjudication before Debt Recovery Tribunal; delay in secured-creditor enforcement proceedings before DRT; YES Bank Limited v. PAX Hygiene Private Limited and Ors.; Bombay High Court writ disposed of with directions; no order as to costs.
What did the court decide?
Direction to the Presiding Officer of Debts Recovery Tribunal-I, Mumbai to conclude the hearing of Interim Application No.896 of 2025 in Securitisation Application No.86 of 2025 on the next date and pass the order thereupon within one week of concluding the hearing.