Delay in Passing Section 14 Order Not Ground to Stop SARFAESI Action: DART Kolkata

Axis Bank Limited Vs Authorized Officer (DART Kolkata) The appeal before the Debts Recovery Appellate Tribunal, Kolkata arose from an order dated 19 February 2025 passed by the Debts Recovery Tribunal-III, Kolkata in S.A. No. 1041 of 2025. By the impugned order, the DRT restrained the appellant bank from taking any coercive steps in respect of the secured assets, despite an order dated 4 November 2024 having been passed by the Chief Judicial Magistrate, Alipore under Section 14 of the SARFAESI Act, 2002. Aggrieved by this restraint, the secured creditor preferred the present appeal. At the out...