ARUNBHAI KALYANBHAI SUTARIYA vs NUTAN NAGRIK SAHAKARI BANK LTD.

The Supreme Court directed the Debts Recovery Tribunal (DRT) and the Gujarat State Cooperative Tribunal to decide pending appeals related to the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) within three months. The Court held that no coercive steps for recovery shall be taken during the pendency of these appeals. The applicability of the SARFAESI Act and the Multi-State Cooperative Societies Act, 2002, remains an open question.