Authority: Supreme Court of India
Order Date: 12-10-2026
Case Overview
- Petitioners: Mis. Narayana Farm Produce Private Limited and others; Respondents: The Bank of Maharashtra and others.
- The dispute stems from a notice issued under Section 13(2) of the SARFAESI Act demanding Rs 66,07,09,467 as term‑loan dues and Rs 4,78,77,366 as cash‑credit dues.
- After the borrower failed to repay, the Bank filed Original Application No. 119/2019 before the Debt Recovery Tribunal seeking recovery of Rs 76,42,44,383.85, which remains unresolved.
- The High Court of Kerala at Ernakulam, in its judgment dated 04‑06‑2026, dismissed OP(DRT) No. 156/2019, holding that the petitioner’s remedy lay under Section 18 of the SARFAESI Act before the Debt Recovery Appellate Tribunal (DRAT).
- The petitioners filed Special Leave Petition (Civil) No. 56926/2026 challenging that judgment.
Final Outcome
- The Supreme Court condoned the delay in filing the interim application, affirmed the High Court’s view, and dismissed the Special Leave Petition.
- The Court ordered that any pending applications, if any, stand disposed of.
Topics: SARFAESI Act, Banking Litigation, Supreme Court Decision