Case Law Analysis
|Madhya Pradesh High Court
SARFAESI Act | High Court Jurisdiction Under Article 226 Permissible Only If DRT Is Functionally Inoperative : MP HC Indore
Madhya Pradesh High Court rules that borrowers may bypass Debts Recovery Tribunal (DRT) and directly approach the High Court under Article 226 only if the DRT is non-functional. The court mandates filing a Section 17 application within 7 days and depositing 10% of dues to maintain status quo on secured assets.