Brief case: DRT to hear auction buyer's plea

A weekly selection of key court orders

The Supreme Court last week ruled if there is a dispute between the buyer at the auction of a mortgaged property and the secured creditor, it should be resolved by the debt recovery tribunal (DRT) and not by a high court.  In this case, Agarwal Tracom Ltd vs Punjab National Bank, India Iron & Steel Corporation took a loan from the bank which it did not return. Therefore the bank invoked the securitisation (Sarfaesi) Act and auctioned it. The assets were given to the highest bidder which agreed to pay the price to the bank in instalments. But the bidder