No threshold for appeals before debt recovery tribunals

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Dismissing an appeal in State Bank of Patiala v Mukesh Jain & Anr, the Supreme Court ruled that a debt recovery tribunal (DRT) constituted under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (DRT Act), can entertain appeals arising from the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act), even if the amount involved is less than ₹1 million.

The court held that there is a difference between a DRT’s original jurisdiction under the provisions of the DRT Act, which is ₹1 million and above, and its appellate jurisdiction under the SARFAESI Act.

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The dispute digest is compiled by Bhasin & Co, Advocates, a corporate law firm based in New Delhi. The authors can be contacted at lbhasin@bhasinco.in or lbhasin@gmail.com. Readers should not act on the basis of this information without seeking professional legal advice.

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