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K. MANMADHA RAO
H. R. Agnihotri – Appellant
Versus
Honble II Addl Judicial First Class Magistrate – Respondent
ORDER :
Dr. K. Manmadha Rao, J.
1. This petition is filed under Article 226 of the Constitution of India for the following relief:-
2. The precise case of the petitioners is that the 2nd respondent filed a complaint dated 07.05.2005 vide S.R.No.5398 of 2012 before the 1st respondent against the petitioners alleging the commission of offence under Section 500 read with Section 34 of IPC, stating that the authorized officer of the Bank of Maharashtra, Sultan Branch published a Demand Notice dated 05.10.2011 under Section 13(2) of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, (in short 'SARFAESI Act)with regard to the property bearing D.No.22-5-20 near RTC Bus Stand, Narasimharaopet, Eluru for recovery of debt due from the 3rd respondent company. The 1st respondent passed the impugned orde
The court ruled that actions taken in good faith under the SARFAESI Act are protected from prosecution, leading to the quashing of the lower court's order.
Legal action under the SARFAESI Act is not barred by concurrent proceedings under the DRT, and where an efficacious alternative remedy exists, a writ petition is unsustainable.
Duty of Magistrate under Section 14 of SARFAESI Act is only to ascertain whether secured assets fall within his jurisdiction and to verify from bank or financial institutions whether notice under Sec....
The court ruled that statutory remedies under the SARFAESI Act must be exhausted before seeking relief under Article 226 of the Constitution, ensuring that judicial discretion is exercised cautiously....
Point of law : As per the settled law, duty of Chief Metropolitan Magistrate (CMM)/District Magistrate (DM) under Section 14 of the SARFAESI Act is only to ascertain whether the secured assets fall w....
The main legal point established in the judgment is the consideration of the relevant provisions under the SARFAESI Act, the availability of expeditious and effective remedies, and the non-maintainab....
Subsection 3 of Section 13 makes it clear that a notice under Subsection 2 shall give details of the amount payable by the borrower. If Ms.Lodha’s submission were to be accepted, then the word “shall....
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