HYDERABAD: The Telangana High Court dismissed a writ petition filed by Bank of Baroda challenging the DRAT order refusing to condone a 169-day delay in filing an appeal.
The dispute arose from recovery proceedings initiated under the SARFAESI Act against Soham Engineering Constructions after the borrower’s loan account turned into a non-performing asset. Auction purchaser, Kosetty Krishna, had sought a refund of Rs 4.64 crore with interest after the auction sale failed.
The Debts Recovery Tribunal-I, Hyderabad, had directed the bank to refund the amount with 5% simple interest.
Though the high court granted interim protection in 2019 and later allowed the bank to approach the DRAT within eight weeks, the appeal was filed only on December 10, 2024. The DRAT rejected the plea, citing lack of sufficient cause for the delay.
Upholding the order, the bench comprising Justice Moushumi Bhattacharya and Justice Gadi Praveen Kumar observed that the bank displayed “lack of diligence” and held that no interference was warranted with the DRAT’s decision.