Debt Recovery Appellate Tribunal (DRAT) upholds decision in favor of Kotak Mahindra Bank, dismissing appeal by loan guarantor who claimed inadequate service of notices under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act

The Debt Recovery Appellate Tribunal (DRAT) in Chennai has dismissed an appeal filed by E. Kumar, a loan guarantor, challenging an order of the Debt Recovery Tribunal (DRT) that favored Kotak Mahindra Bank. The DRAT confirmed that the bank had correctly followed the...