D.NAGESWAR RAO vs S.B.I .

The Supreme Court held that under The Recovery of Debts Due to Banks and Financial Institutions Act, 1993, the appellant is permitted to clear outstanding dues of Rs. 1,02,06,815/- in monthly installments of Rs. 15,00,000/-, starting from March 2016. The Court emphasized that in case of default of two consecutive installments, the appeal would be dismissed, allowing the Bank to proceed legally. Additionally, the appellant is required to pay Rs. 5,00,000/- as compensation to the auction purchaser, with the Bank also liable for the same amount.