#secured assets

The Bombay High Court ruled that a prolonged vacancy in the DRAT Chairperson’s office cannot be used to nullify interim protection granted to compliant appellants who have fully discharged pre-deposit obligations. This upholds the principle that procedural delays caused by administrative failure must not prejudice parties acting in good faith, reinforcing natural justice in debt recovery appeals.

Bombay High Court rules that banks cannot take physical possession of secured assets while an interim relief application is pending before the Debt Recovery Tribunal. The decision reinforces procedural fairness under the SARFAESI Act, ensuring borrowers have adequate opportunity to challenge possession notices before enforcement.

Kerala High Court reaffirms that writ petitions under Article 226 against SARFAESI Act proceedings are maintainable only in exceptional circumstances, directing aggrieved parties to Debts Recovery Tribunal.

Madhya Pradesh High Court holds that authorities must assist banks in dispossessing borrowers under SARFAESI Act, reinforcing procedural compliance and state obligation.