Petitioners have made an application before the Court below in Misc.No.513/2005 for dismissing the said miscellaneous petition on the ground that the matter in dispute between the parties is pending consideration before the Debt Recovery Tribunal and therefore the Civil Court does not have jurisdiction to proceed with the matter.

2. The petitioners relied upon the provisions of Section 34 of Securitisation and Reconstruction Financial Assets and Enforcement of Security Interest Act, 2002 ('SARFAESI Act' for short) in support of their case. Section 34 of SARFAESI Act reads thus:-

"34. Civil Court not have jurisdiction-No civil Court shall have jurisdiction to entertain any suit or proceeding in respect of any matter which a Debts Recovery Tribunal or the Appellate Tribunal is empowered by or under this Act to determine and no injunction shall be granted by any Court or other authority in respect of any action taken or to be taken in pursuance of any power conferred by or under this Act or under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (51 of 1993)"

It is also relevant to note the provisions of Section 31(1)(aa) of State Financial Corporatio