CFM Assets Reconstruction Private Limited Vs Canterbury Real Tech Pvt Ltd and Ors (DRT Delhi)
The matter was listed for pronouncement of the final order before the Debts Recovery Tribunal (DRT), Delhi, when Defendant No. 1 filed an interlocutory application (IA No. 795/2025). The defendant requested modification/clarification of the Tribunal’s earlier order dated 03.10.2025, stating that the order incorrectly recorded that final arguments were heard on its behalf. It submitted that arguments on merits had not been advanced because the mandatory procedure of admission, denial, and exhibition of documents had not yet been completed. The defendant also sought permission to place certain additional documents on record and referred to an appeal pending before the DRAT, requesting appropriate directions.
The applicant financial institution opposed the application, arguing that the Original Application had already been heard and reserved for orders. It submitted that no further interlocutory application could be entertained at this stage and reopening the matter would undermine the mandate of expeditious adjudication under the RDB Act.
After hearing both sides, the Tribunal examined the record and noted that the matter had indeed been reserved for final orders without completing the mandatory process of admission, denial, and exhibition of documents under Section 19(5A) of the RDB Act. The Tribunal held that this procedural step is essential to ensure evidentiary authenticity, and its omission amounted to an irregularity requiring correction before a final order could be pronounced.
At the same time, the Tribunal rejected the defendant’s broader request to reopen arguments or allow additional documents. It held that mere pendency of an appeal before the DRAT does not provide grounds to delay or stay the proceedings, particularly in the absence of a specific stay order. Entertaining fresh material or reconsidering arguments at this late stage would cause unnecessary delay and defeat the object of quick recovery under the RDB Act.
Accordingly, the Tribunal partly allowed the application only to the limited extent of directing that the process of admission, denial, and exhibition of documents be conducted. All other requests were rejected. The matter was listed before the Registrar on 07.11.2025 for completion of this mandatory procedural step
FULL TEXT OF THE ORDER OF DRT DELHI
1. This matter is taken up by this Tribunal through Hybrid mode.
