Indian Bank vs M/S Blue Jaggers Estates Ltd

The Supreme Court ruled that under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, a bank can initiate recovery proceedings even when a matter is pending before the Debts Recovery Tribunal under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993. The Court held that the compromise agreements signed by the parties did not absolve the bank's right to recover dues when the respondents defaulted on payments. Consequently, the Court upheld the bank's right to proceed with recovery under the Act despite the ongoing DRT proceedings.