Indian Bank Represented Thro Its Chief Manager Mr Suresh Chandra Chauhan v. Debts Recovery Tribunal Ranchi Represented Thro Its Registrar
Case brief
What is this about?
Indian Bank (formerly Allahabad Bank), Stressed Asset Management Branch Ranchi, writ petition seeking expedited disposal by Debts Recovery Tribunal Ranchi of S.A. No. 99 of 2023 under Section 17(5) Securitization Act, 2002 (60-day/four-month statutory disposal window); Court held statutory provision already exists, petitioner to press prayer before Tribunal, who will look into the matter; petition disposed of with liberty to pursue before respondent no.1; pending I.A., if any, disposed of. Bench: Hon'ble Mr. Justice Sanjay Kumar Dwivedi; Counsel: P.A.S. Pati (petitioner only). Respondents: DRT Ranchi (Registrar) and Chandra Nath Banerjee, Some Nath Banerjee, Debabrata Banerjee, Soma Banerjee, Aparna Banerjee, Sukirti Banerjee of Jamshedpur, East Singhbhum. Decided 06 August 2024. No precedents engaged; no monetary quantum.
What did the court decide?
Liberty to the petitioner to pursue the matter (expeditious disposal of S.A. No. 99 of 2023) before respondent no.1 (Debts Recovery Tribunal Ranchi); pending interlocutory application(s) (I.A.), if any, stand disposed of (per ¶25).