HYDERABAD: Finding fault with the order passed by the presiding officer of the Debt Recovery Tribunal-1, Hyderabad in rejecting the petitioner’s plea that the subject agricultural land could not have been sold under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (SARFAESI Act), a division bench of Telangana High Court has directed the Ministry of Finance to take appropriate action against the presiding officer concerned.
“This Court has been coming across several orders passed by the said presiding officer, who is not keeping in mind the parameters of jurisdiction under the provisions of the Act and seems to be turning a blind eye to the gross violations of provisions of the Act and Rules by financial institutions and banks. He seems to have an inherent bias in favour of the financial institutions and banks, and prejudice against borrowers,” the bench observed.
The bench of Justice MS Ramachandra Rao and Justice K Lakshman passed the order in the petition filed by SSR Poultry Farm at Warangal, seeking direction to the respondents -- Oriental Bank of Commerce, advocate-commissioner and an individual, not to interfere with the day-to-day agricultural activities of the company proprietor.