Dismissed
Bank of Baroda v. Jumbo Finvest India Limited
DRTSA/42/2023
Case brief
AI extract
What is this about?
The Debts Recovery Tribunal (DRT) dealt with common orders in matters involving inter-se disputes between financial institutions. Relying on the Supreme Court judgment in Bank of India vs M/S Sri Nangli Rice Mills, the Court held that such disputes fall under Section 11 of the SARFAESI Act, excluding DRT jurisdiction, and mandated resolution through statutory arbitration.
What did the court decide?
Direction to resolve disputes via arbitration under Section 11 of the SARFAESI Act; limitation period from date of filing of pleadings.