Standard Chartered Bank v. Vineet Oils Private Limited
Case brief
What is this about?
In an appeal regarding a securitization application pending since 2018, the Tribunal ordered the Debts Recovery Tribunal to decide the matter expeditiously on a fixed date without unjustified adjournments, citing systemic delay.
What did the court decide?
Directions issued to the learned DRT to decide the Special Appeal and pending I.As expeditiously on 10.08.2026 without adjournment.
What the court decided
1
IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA Misc. Application Dy No. 685 of 2026 (Arising out of S.A. No 151 of 2018 – DRT-I Kolkata) THE HON’BLE JUSTICE SHRI ANIL KUMAR SRIVASTAVA, CHAIRPERSON
Order No. 02
13.07.2026
- STANDARD CHARTERED BANK Group Special Asset Management, At 19, Netaji Subhas Road, 1st floor, Kolkata – 700001.
- The Authorised Officer, STANDARD CHARTERED BANK Group Special Asset Management, At 19, Netaji Subhas Road, 1st floor, Kolkata – 700001.
... Appellant
--Vs--
- Vineet Oils Private Limited, 222, A.J.C. Bose Road, 5th floor, Flat No. 5A/1, Circular Mansion, Kolkata – 700017.
- Sri Aditya Vikram Agarwal, 222, A.J.C. Bose Road, 5th floor, Flat No. 5A/1, Circular Mansion, Kolkata – 700017.
- Smt. Ruchira Sureka, Mahalaxmi Bhawan, P.N.Ghosh Street, Purulia, West Bengal – 723101.
Issues for consideration
2 issues framed by the court
Whether the Debt Recovery Tribunal must expeditiously dispose of a securitization application pending since 2018 despite interim orders.
Whether the Tribunal must direct the learned DRT to decide the underlying special appeal along with pending applications expeditiously.
Parties & counsel
- appellant
Standard Chartered Bank Group Special Asset Management
- respondent
Vineet Oils Private Limited
Coram
Anil Kumar Srivastava
Case details
As recorded by the court registry
- Court
- DRAT
- Decided on
- · July
- CNR
- 191090006852026
- Topic
- Banking and Recovery
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