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SOUTH INDIAN BANK – Appellant
Versus
ABDULLA KULUKKAMPARA S/O MUHAMMAD ALI – Respondent
JUDGMENT :
S. MANU, J.
1. The Appellant Bank is aggrieved by the judgment dated 4 November 2024 of the learned Single Judge in W.P. (C) No. 38607/2024.
2. W.P. (C) No. 38607 of 2024 was filed seeking the following prayers:
(II) To issue a writ of mandamus or any other appropriate writ, order or direction commanding the Respondent banks not to proceed further under the Securitization and Reconstruction of Financial assets and Enforcement of Security Interest Act 2002 or under any other law against the petitioner.
(III) To dispense with the translation of documents from vernacular language to English on the undertaking that the same shall be produced as and when directed by the Hon'ble Court.”
3. The Respondent had availed a Cash Credit Open Loan (CCOL) for an amount of Rs. 40,00,000/- and a term loan under the Emergency Credit Line Guarantee Scheme (ECLGS) for an amount of Rs. 7,80,000/- from the Appellant Bank, by creating an equitable mortgage of 20.25 Ares
The High Court should not interfere with SARFAESI Act proceedings when effective statutory remedies are available, emphasizing the importance of adhering to legislative intent.
The main legal point established in the judgment is that the High Courts should not entertain writ petitions under Article 226 of the Constitution of India when an efficacious alternative remedy unde....
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....
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....
The High Court must not entertain writ petitions regarding SARFAESI actions without the petitioner first pursuing statutory remedies before the Debts Recovery Tribunal as mandated under the SARFAESI ....
SARFAESI Act is a complete code by itself, providing for expeditious recovery of dues arising out of loans granted by financial institutions.
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