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VAIBHAVI D. NANAVATI
Yamuna Agency – Appellant
Versus
Axis Bank – Respondent
ORDER :
Vaibhavi D. Nanavati, J.
1. Heard learned advocate Mr. Aman Mir for the petitioner.
2. The present petition is filed by the petitioner with the following prayers.
(b) To hold and adjudge that the Debts Recovery Tribunal - II, Ahmedabad, while passing Order dated 25/06/2024 in Securitisation Application No. 343 of 2024 has acted ultra vires the jurisdiction vested in it by directing the Petitioners - Borrowers to enter into a one-time settlement with the Respondent Bank instead of quashing the action of the Respondent Bank of taking physical possession of the secured property in question in stark contravention of Section 13(4) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 read with Rule 8 of the Security Interest (Enforcement) Rules, 2002. Accordingly, quash and set aside the Order dated 25/06/2024 in Securitisation Application No. 343 of 2024.
(c) To quash and set aside all the actions of the Respondent Bank against the Petitioners undertaken under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 on the ground of being in con
The court established that compliance with statutory provisions is essential in possession proceedings under the Securitisation Act, and alternative remedies must be exhausted before seeking judicial....
The main legal point established in the judgment is the need to exhaust statutory remedies before seeking relief under Article 226 of the Constitution of India, particularly in matters involving the ....
The main legal point established in the judgment is the principle of exhaustion of statutory remedies and the limited circumstances under which the High Court can exercise its extraordinary jurisdict....
The main legal point established in this judgment is that the High Court should not entertain writ petitions under Article 226 of the Constitution of India in matters involving recovery of dues under....
(1) Writ Petition – High Court will ordinarily not entertain a petition under Article 226 of Constitution if an effective remedy is available to aggrieved person.(2) Auction sale of secured asset – S....
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