STATE BANK OF INDIA vs KINGFISHER AIRLINES LTD. .

The Supreme Court addressed the challenge by State Bank of India and other banks against the Karnataka High Court's refusal to grant interim relief in a recovery matter involving loans amounting to over Rs.6200 crores. The Court emphasized the necessity for the Debt Recovery Tribunal to consider the banks' applications for interim measures, including freezing assets and disclosing financial information, under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993. The Court held that the urgency of the matter warranted immediate attention and directed the DRT to expedite the hearing of the applications.