Case name: Indian Bank vs M/s Fair Style Embroidery Works & Ors.
Diary No.: 71961/2025
Origin: Arising out of impugned final judgment and order dated 12-09-2025 in CWP No. 20243/2025 passed by the High Court of Punjab & Haryana at Chandigarh.
Court: Supreme Court of India
Order date: 25-05-2026
Applications: IA No. 127319/2026 (condonation of delay), IA No. 127322/2026 (condonation of delay in refiling/curing defects), IA No. 127317/2026 (exemption from filing C/C of the impugned judgment)
Parties Involved
Petitioner: Indian Bank
Respondent: M/s Fair Style Embroidery Works & Ors.
Counsel for petitioner: Mr. Brijesh Kumar Tamber (Advocate on Record), Mr. Vinay Singh Bist (Advocate)
Bench: Hon'ble Mr. Justice Pamidighantam Sri Narasimha, Hon'ble Mr. Justice Alok Aradhe
Interpretation of Section 17 of the SARFAESI Act regarding whether the Debt Recovery Tribunal (DRT) has jurisdiction to condone delay in filing applications.
Divergent judicial opinions: High Courts of Kerala, Calcutta, and Madras hold DRT lacks jurisdiction; High Courts of Punjab & Haryana, Bombay, and Andhra Pradesh hold DRT has jurisdiction.
Findings & Observations
The Supreme Court noted the existence of divergent views among various High Courts on the scope of Section 17 SARFAESI.
No definitive resolution on the jurisdictional question was rendered in this order; the matter is referred for further consideration.
Penalties / Settlements / Directions
The Court ordered issuance of notice on the applications seeking condonation of delay (IA Nos. 127319/2026, 127322/2026) and on the Special Leave Petition.
The notice shall be returnable on 14‑08‑2026.
Parties directed to maintain the status quo until the next hearing.
Corrective Actions & Future Obligations
Parties must comply with the status quo order.
Respondents and petitioner must respond to the notice by the stipulated return date.
Final Ruling & Enforcement
Notice to be issued as directed; hearing scheduled with return date 14‑08‑2026.
Status quo to be maintained pending further orders.
