The Debts Recovery Appellate Tribunal disposed of the appeal against an interim order by directing the Presiding Officer of the DRT-II, Chennai to dispose of the main appeal expeditiously. A Status Quo order was imposed for one month.
Direction to dispose of main appeal expeditiously; Status Quo order for one month.
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IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT CHENNAI
Dated the 17th of September 2025
PRESENT: Hon’ble Mr. Justice G. Chandrasekharan
CHAIRPERSON
MA (SA) 63/2025
(Arising out of IA Dy.No. 1859/2025 in SA 321/2025 on the file of the DRT-II, Chennai)
Between
And
M/s. Equitas Small Finance Bank Limited, No.106 Sarakabani East Sannadhi Koil Street, Kumbakonam 612 401. …Respondent
Counsel for Appellant : M/s. R.K.M. Suresh Counsel for Respondent : Mr. S. Suresh
ORDER
This appeal is filed against the interim order dated 29.07.2025 passed in IA Dy.No. 1859/2025 in SA 321/2025 seeking to condone the delay of 25 days in complying the second part of the conditional order dated 19/05/2025 passed by the learned Presiding Officer, DRY-II, Chennai.
The main SA 321/2025 filed to set aside order passed by the learned Chief Judicial Magistrate, Thanjavur at Kumbakonam in Crl.M.P. No. 62/2025 under Section 14 of the SARFAESI Act, which is still pending. Therefore, this tribunal is of the view that this appeal can be disposed of by giving a direction to the learned Presiding Officer, DRT -II, Chennai to dispose the SA 321/2025 as expeditiously as possible. Accordingly, this appeal is disposed of with a direction to the learned Presiding Officer, DRT-II, Chennai to dispose the SA 321/2025 as expeditiously as possible. There shall be an order of Status Quo for a period of one month from today. It is for the learned Presiding Officer to decide on the continuation of the Status Quo order or discontinuation depending on the need and exigency.
In the result, this appeal is disposed of with the above direction.
Parties are directed to bear their own costs.
Pending IAs, if any, shall stand closed.
(Dictated to Stenographer (ra), in open Court, transcribed by her, corrected and signed by me this 17th of September 2025)
Sd/-
(JUSTICE G. CHANDRASEKHARAN)
CHAIRPERSON
ra
1 issue framed by the court
Whether the appeal against the interim order seeking condonation of delay can be disposed of by directing expeditious disposal of the main appeal.
Mr. P. Jaffer Ali
M/s. Equitas Small Finance Bank Limited
G. Chandrasekharan
As recorded by the court registry
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