First Division Bench of Acting Chief Justice T. Raja and Justice D. Bharatha Chakravarthy held that no such omnibus direction could be issued since the time frame fixed under the 2002 law was only directory, and not mandatory.

[5/9, 12:37] sekarreporter1: The Madras High Court has refused to issue a direction to its Registrar General to circulate a notification requiring all subordinate courts in Tamil Nadu to strictly adhere to the prescribed timeframe while assisting banks and financial institutions to take possession of secured assets, under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFFEASI) Act, 2002.

A First Division Bench of Acting Chief Justice T. Raja and Justice D. Bharatha Chakravarthy held that no such omnibus direction could be issued since the time frame fixed under the 2002 law was only directory, and not mandatory. They however, made it clear that the banks and financial institutions could approach the High Court seeking expeditious disposal of their pleas if there were undue delays
[5/9, 12:37] sekarreporter1: .