Debts Recovery Tribunals and Appellate Tribunals
KARNATAKA BANK LIMITED vs M/s EXPOVAN on 10 September 2026
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IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
Misc Appln 60/26 (Speedy Disposal) [A.IR:1158/2026]
Karnataka Bank ltd V/S M/s Expovan & anr 10/09/2026
This application is filed seeking for a direction to the learned Presiding Officer, DRT, Coimbatore, to dispose the SA 474/2025 as expeditiously as possible. It is the submission of the learned counsel for the petitioner that the first respondent availed credit facility from the petitioner-Bank and on default in paying the loan amount, the loan account was classified as NPA on 10.05.2023. Subsequently, the account was also classified as fraudulent account and the same was challenged in the writ petition, but, notices issued under Sections 13 (2) and 13(4) of the SARFAESI Act were not challenged by the first respondent. Petitioner-Bank obtained an order under Section 14 of the SARFAESI Act on 17.03.2025. Challenging that order, SA 474/2025 has been filed and the same is pending without any progress. Despite the fact that the pleadings have been completed and the petitioner-Bank is ready all along, the respondent is taking adjournment from time to time. Learned counsel for the petitioner-Bank further submitted that the learned Presiding Officer, granted interim order on 05.06.2025 directing the petitioner-Bank to defer assuming physical possession of the secured asset till 03.07.2025. There is no indication of extension or non-extension of the order in the subsequent hearings. In the said background, this application is filed for speedy disposal of the securitization application. Learned counsel for the first respondent seeks time to produce restraint order passed by the Hon’ble High Court of Madras in this case. Post the matter on 25.09.2026. Parties are directed to inform as to whether the interim order has been granted in the subsequent hearings or not.
Sd/-
Chairperson