State Bank of Patiala vs Mukesh Jain - Supreme Court Important Judgment

State Bank of Patiala vs Mukesh Jain - Supreme Court Important Judgment 2016 - 

 

On 8th November, 2016, in the case of State Bank of Patiala vs Mukesh Jain & Anr. [Civil Appeal No.210 of 2007], it was held that the Debt Recovery Tribunal constituted under the Recovery of Debts due to Banks and Financial Institutions Act, 1993 Act has jurisdiction to entertain an appeal as per Section 17 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 even if the amount involved is less than Rs 10 lakh. However, it was clarified that “the said appellate jurisdiction need not be misunderstood with the original jurisdiction of the Tribunal.”

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