Under Section 17(5) of the SARFAESI Act, what is the maximum total period within which the Debts Recovery Tribunal must dispose of an application made under Section 17(1)?

Section 17(5) mandates that any application under Section 17(1) shall be dealt with as expeditiously as possible and disposed of within 60 days from the date of filing. However, the DRT may, from time to time, extend this period for reasons to be recorded in writing - but the total period of pendency of the application with the DRT shall not exceed four months from the date of making the application. This four-month outer limit ensures time-bound adjudication. If the DRT fails to dispose within four months, any party may apply to the Appellate Tribunal under Section 17(6) for directions for expeditious disposal.