The Allahabad High Court emphasized collaboration among stakeholders to address Non-Performing Assets (NPAs) and ensure banking system security. Justices Varma and Saraf rejected the suspension of SARFAESI Act proceedings based on an injunction without a registered lease deed in the case involving M/S Trilokchand Fabrication. They emphasized the Act’s pivotal role and the need to curb unnecessary litigation delaying NPA resolution. The court clarified that unregistered leases cannot impede SARFAESI Act proceedings and nullified the suspension order in this case.
