Authority: Debts Recovery Appellate Tribunal, Allahabad

Order Date: 28 July 2026

Case Overview

  • Petitioner: M/s Lardrums Electricals Pvt Ltd.
  • Respondent: State Bank of India (SBI) as the secured creditor.
  • The appeal (Diary No. 2428 of 2025) challenges the order of the Debts Recovery Tribunal, Dehradun dated 31 October 2025, issued under Section 17 of the SARFAESI Act, 2002, which permitted SBI to take possession of the petitioner’s plant and machinery.
  • Petition seeks interim relief to prevent disposal of the assets while the appeal is pending; the next hearing before the Appellate Tribunal is fixed for 8 September 2026.
  • Counsel for the petitioner, Mr. Rajat Mittal, argued that immediate disposal would cause irreparable loss; counsel for SBI, Mr. Ashish Joshi, appeared.

Final Outcome

  • SBI counsel, on instructions, agreed that the bank will not undertake any precipitous action against the petitioner for a period of fifteen days.
  • The stay is effective from the date of the order (28 July 2026) pending further determination by the Tribunal.

Topics: Debt Recovery, SARFAESI Act