Kolkata, Sept. 10 -- The Calcutta High Court has dismissed a writ petition filed by Debpara Tea Company Ltd against the State Bank of India (SBI), holding that a micro, small and medium enterprise (MSME) cannot seek the benefit of the Framework for Revival and Rehabilitation of MSMEs at a belated stage after SARFAESI recovery proceedings have commenced.

Justice Krishna Rao observed that Debpara Tea Company, an MSME, sought the benefit of the framework only after SBI had issued a notice under Section 13(4) of the SARFAESI Act and the company had approached the Debt Recovery Tribunal (DRT) under Section 17.

The company was sanctioned financial assistance of Rs 13.73 crore in October 2020, which was enhanced in May 2022. SBI classified the...