Authority: High Court of Andhra Pradesh at Amaravati
Order Date: 23 October 2026
Case Overview
- Petitioner: Tatavarthi Naga Venkata Ram Kumar (borrower).
- Respondents: Union of India and others, including Shriram City Union Finance Limited (lender).
- The petitioner obtained an Enterprise Finance Loan of Rs 50,00,000 from Shriram City Union Finance Limited and subsequently defaulted on repayment.
- Notices under Sections 13(2) and 13(4) of the SARFAESI Act were issued to the petitioner, followed by a sale notice dated 17 September 2026.
- An e‑auction of the secured property was scheduled for 23 October 2026.
- The petitioner filed an application under Section 17 of the SARFAESI Act with the Debt Recovery Tribunal (DRT) on 21 October 2026; the application was listed on 27 October 2026 (S.A. No. 725 of 2026).
- The DRT was non‑functional because the Presiding Officer was on leave; the petitioner produced a government instruction dated 15 October 2026 indicating a link officer arrangement for the period 19‑23 October 2026.
Final Outcome
- The Court, without delving into merits, directed the Debt Recovery Tribunal to adjudicate the stay application (S.A. No. 725 of 2026) as expeditiously as possible, preferably within two weeks.
- Respondents were ordered not to take any coercive steps concerning the schedule property mentioned in the sale notice dated 17 September 2026 for a period of two weeks from receipt of this order.
- The writ petition is disposed of; no costs are awarded.
- Any miscellaneous petitions, if pending, shall stand closed.
Topics: SARFAESI Act, Debt Recovery Tribunal