INDIAN BANK Vs. DEBTS RECOVERY TRIBUNAL III

JUDGEMENT

(1.) This writ petition is for issuance of mandamus to direct the Debts Recovery Tribunal-III, Chennai to strictly adhere to the time frame fixed under Section 17(5) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for brevity "the SARFAESI Act").

(2.) The grievance of the petitioner, as set out in the affidavit filed in support of this writ petition as well as the statement filed in the type set of papers, is that contrary to the time schedule fixed under Section 17(5) of the SARFAESI Act the Tribunal is not taking necessary endeavour to dispose of the cases expeditiously.

(3.) Mr.Jayesh Dolia, learned counsel appearing for the petitioner though was fully aware of Section 17(6) of the SARFAESI Act would contend that a direction by this court in consonance with the prayer made in the writ petition would go a long way to expedite the disposal of the pending cases.