DRT Must Decide Securitisation Applications Within Statutorily Mandated Timeline : Supreme Court

The Supreme Court directed that Debt Recovery Tribunals (DRTs) must decide securitisation applications within the timelines mandated by law. The Bench criticised delays that undermine debt enforcement and the objectives of the SARFAESI Act. Emphasising the need for prompt adjudication, the Court held that such delays affect both creditors’ rights and the financial system’s efficiency. The ruling strengthens accountability in the DRT mechanism and upholds legislative intent for time-bound resolution of financial disputes.