Centre For Public Interest Litigation vs Housing & Urban Development ...

The Supreme Court emphasized the critical need for adequate infrastructure and resources for Debt Recovery Tribunals (DRTs) to effectively handle the backlog of cases, as mandated by the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 and the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. The Court directed the Union Government to provide an affidavit addressing the feasibility of achieving legislative timelines with current infrastructure and to outline steps for enhancement. The judgment underscores the importance of efficient functioning of DRTs for the effective recovery of debts.