DRT Order staying Coercive steps in secured property without leave of Tribunal: DRAT Directs to dispose of Axis Bank’s petition on 18th July
Since the matter is already listed on 18th July, 2025 hence without entering into the merits of the matter, the Justice Anil Kumar Srivastava, Chairperson disposed of the appeal.
In a recent case, the Kolkata bench of the Debts Recovery Appellate Tribunal (DRAT) directed to disposal of the petition filed by Axis Bank as there was an order by the DRT order staying coercive steps in secured property without leave of the Tribunal. Counsel for Appellant submitted that an order dated 19.8.2024 was passed by DRT passing an interim order directing the Bank not...
In a recent case, the Kolkata bench of the Debts Recovery Appellate Tribunal (DRAT) directed to disposal of the petition filed by Axis Bank as there was an order by the DRT order staying coercive steps in secured property without leave of the Tribunal.
Counsel for Appellant submitted that an order dated 19.8.2024 was passed by DRT passing an interim order directing the Bank not to take any coercive steps in respect of the secured property without leave of the Tribunal. The order was challenged by filing Misc. Appeal No. 73 of 2024.
Appeal was allowed on 18th March, 2024 and the matter was remanded back to the DRT for deciding the matter afresh. Thereafter on 6th May, 2025 DRT passed an interim order directing the Bank to maintain status quo in respect of the secured assets. Feeling aggrieved by the impugned order, the Appellant Bank preferred the appeal.
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At the very outset it is to be observed that the matter is listed before DRT-III, Kolkata on 18th July, 2025. The interim order of status quo is passed by the DRT. Perusal of the order would show that a request was made by the Bank for fixing a date for hearing of the petition. However, DRT fixed the date of hearing but also passed the interim order.
Since the matter is already listed on 18th July, 2025 hence without entering into the merits of the matter, the Justice Anil Kumar Srivastava, Chairperson disposed of the appeal. It is expressly directed to the DRT-III, Kolkata to dispose of the matter either on 18th July, 2025, i.e. the date fixed, or within ten days.
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