ST.MARY'S HOTEL(P) LTD. vs KOTTAYAM DIST.COOP.BANK LTD..

The Supreme Court directed that the amount of Rs.2 crores paid by the petitioners to the respondent-Bank be appropriated towards their dues, as they had already paid more than the Rs.65 lakhs required by the Debt Recovery Appellate Tribunal (DRAT). The Court held that no further payment was necessary and prohibited any coercive recovery actions under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) during the pendency of the appeal. The question of law regarding the SARFAESI Act and the Multi-State Cooperative Societies Act, 2002, was left open for future consideration.