Mira Exports Vs Authorized Officer (Madras High Court)
Madras High Court remanded the matter back to Debt Recovery Appellate Tribunal [DRAT] since it has merely affirmed the order of Debt Recovery Tribunal [DRT] and has not appreciated/ re-appreciated evidence independently while determining nature of land i.e. whether it is agricultural or otherwise.
Facts- The present writ petition is filed impugning an order dated 26.09.2023 of Debt Recovery Appellate Tribunal, Chennai. The challenge, primarily is on the premise that subject property is “agricultural land”, thus in terms of Section 31(i) of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) falls outside the purview of SARFAESI Act.
Conclusion- Held that order of DRAT stands vitiated inasmuch as it has not considered relevant material nor made enquiries which are imperative. A perusal of order of DRAT would show that it has merely affirmed the order of DRT and has not appreciated/ re-appreciated evidence independently. That apart DRAT is final statutory body/Tribunal under SARFAESI Act, thus making it all the more necessary for the DRAT to appreciate/re-appreciate evidence on record independently. Thus, we are inclined to set-aside the impugned order dated 26.09.2023 and remand the matter back to DRAT for reconsidering the issue by considering/evaluating the evidence let in by both sides.
