SAI TRADERS Vs. PUNJAB NATIONAL BANK

JUDGEMENT

(1.) Petitioners are borrowers, who are facing recovery proceedings under Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.

(2.) It is contended on behalf of the petitioners that due to non-availability of Presiding Officer at Debts Recovery Tribunal, Dehradun, the remedy under Sec. 17 of the said Act has become illusory.

(3.) This submission has however been disputed by learned Senior Counsel appearing for respondent no. 1, who submits that Presiding Officer, Debts Recovery Tribunal, Lucknow has been given additional charge, who is virtually hearing the cases of Debts Recovery Tribunal, Dehradun on each Friday.