K. Rajarajan v. the Authorised Officer
Case brief
What is this about?
Article 227 CRPs against DRT-I Chennai common order dated 29.05.2024 (M.A.No.4 of 2023 in R.A.No.2 of 2023 in S.A.No.334 of 2022) rejecting review application and condonation of delay; DRT lacks jurisdiction to condone delay beyond prescribed period per Standard Chartered Bank v. MSTC Ltd. [2020 (13) SCC 618]; Indian Overseas Bank Authorised Officer; petitioner K.Rajarajan; petitions and interim applications dismissed, no costs.
What did the court decide?
Proceeding on the settled legal position declared by the Supreme Court in Standard Chartered Bank v. MSTC Ltd. [2020 (13) SCC 618] that the Debts Recovery Tribunal does not have jurisdiction to condone the period of delay beyond the period prescribed by law - a judgment the Tribunal below had also noted, and which learned Senior Counsel for the petitioner could not dispute - the Court found no scope for interference with the Tribunal's order.