Persn Medicinal Plant P.Ltd.& Anr vs Indian Bank & Ors

The Supreme Court directed the Debts Recovery Appellate Tribunal (DRAT) to hear and dispose of the appeal concerning the liabilities of the appellant company within two months, following the High Court's order that set aside the previous decision of the DRAT. The Court allowed the Indian Bank to appropriate the amount already collected, subject to the final decision of the DRAT. The judgment emphasizes the need for expeditious resolution of appeals in debt recovery matters under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993.