NON-REPORTABLE IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION

CIVIL APPEAL NO. 4989 OF 2018 [@ SPECIAL LEAVE PETITION (C) NO. 7085/2016]

M/S. NEEL ENTERPRISES  & ANR.                      APPELLANT(S)

                               VERSUS

STATE BANK OF INDIA  & ANR.                        RESPONDENT(S)

J U D G M E N T

KURIAN, J.

Leave granted.

2. The  appellant  approached  the  Debt  Recovery

Tribunal  (for  short  ‘the  DRT’)  against  the  notice

under Section 13(2) dated 21.08.2014 issued by the

respondent  Bank  under  The  Securitisation  and

Reconstruction of Financial Assets and Enforcement of

Security Interest Act, 2002.

3. There was a delay of 14 days.  The DRT declined

to condone the delay.  The appellant approached the

High Court.  The High Court relegated the appellant

to Debt Recovery Appellate Tribunal (for short ‘the

DRAT’).  The High Court in the impugned order also

directed the appellant to deposit 25% of the amount

covered by the 13(2) notice.  Thus, aggrieved, the

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appellant has approached this Court.

4. The matter has been pending before this Court for

the last two years.  The Section 13(2) notice was

issued in the year 2014.  Having regard to the entire

facts and circumstances of the case, we are of the

view that the interest of justice would be met in

case  the  appellant  is  permitted  to  pursue  his

objection to the notice under Section 13(2) before

the DRT.

5. Accordingly, we set aside the impugned judgment,

the order passed by the DRT declining to condone the

delay of 14 days.  The delay of 14 days is condoned.

6. We direct the DRT, in view of the passage of time

of around 4 years, to dispose of the matter within

two months from the date of communication/production

of a copy of this order.

7. We direct the parties to appear before the DRT on

17.05.2018.  The parties are directed to cooperate

with the disposal of the matter and the DRT shall not

grant  any  unnecessary  adjournment  to  the  parties.

The Registry is directed to immediately communicate a

copy of this order to the DRT.

8. Interim order passed by this Court will continue

to operate till the matter is disposed of by the DRT.

9. The appeal is, accordingly, disposed of.

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10. Pending applications, if any, stand disposed of.

11. There shall be no orders as to costs.

.......................J.               [KURIAN JOSEPH]  

.......................J.               [MOHAN M. SHANTANAGOUDAR]  

NEW DELHI; MAY 10, 2018.

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