Standard Chartered Bank vs Dharminder Bhohi & Ors

The Supreme Court addressed the delay in the disposal of applications by the Debts Recovery Tribunal and the Debt Recovery Appellate Tribunal, emphasizing the adverse impact on economic stability. The Court highlighted the need for timely resolution of disputes under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act), specifically referencing Section 13(2) and Section 17(1). The Court held that prolonged delays undermine public interest and urged for prompt action by the tribunals to balance the interests of financial institutions and borrowers.