Authorised Officer, State Bank Of India vs M/S Allwyn Alloys Pvt. Lt.

The Supreme Court upheld the decision of the Debts Recovery Tribunal and Debts Recovery Appellate Tribunal, confirming that the Memorandum of Understanding dated 13th March, 2011, relied upon by the writ petitioners, was an unregistered document created after the equitable mortgage and did not confer any rights. The Court emphasized that the petitioners failed to provide evidence of their title over the flat, thus rejecting their plea to restrain the Bank from auctioning the property. The High Court's order allowing the petitioners to approach the competent forum for adjudication was affirmed, ensuring due process in resolving the disputed title.