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INDERJEET SINGH
Om Shree Fashion Era – Appellant
Versus
State Bank of India – Respondent
ORDER
1. Admittedly, the petitioners are having alternative remedy of appeal before the Debts Recovery Appellate Tribunal under Section 203 of Recovery of Debts and Bankruptcy Act, 1993 against the order dated 02.02.2021.
2. The Hon'ble Supreme Court in the matter of State Bank of Travancore and anr. Vs. Mathew K.C. reported in (2018) 3 SCC 85, has held as under:-
"6. The Act has been enacted with a view to provide a special procedure for recovery of debts due to the banks and the financial institutions. There is a hierarchy of appeal provided in the Act, namely, filing of an appeal under Section 20 and this fast-track procedure cannot be allowed to be derailed either by taking recourse to proceedings under Articles 226 and 227 of the Constitution or by filing a civil suit, which is expressly barred. Even though a provision under an Act cannot expressly oust the jurisdiction of the court under Articles 226 and 227 of the Constitution, nevertheless, when there is an alternative remedy available, judic
Judicial intervention is not warranted when an effective alternative remedy exists under specific statutory provisions for debt recovery.
The High Court should not entertain a writ petition under Article 226 if an effective remedy exists under the SARFAESI Act, emphasizing the importance of exhausting statutory remedies.
As a result of judicial pronouncement of this Court, it would amount to judicial impropriety to say the least, for the subordinate courts including the High Courts to ignore the settled decisions and....
Exhaustion of alternative remedies before approaching the High Court under Article 226 of the Constitution, as emphasized by the provisions of the SARFAESI Act and supported by relevant Supreme Court....
The main legal point established in the judgment is that when an alternative remedy is available under the SARFAESI Act, a writ petition to set aside the proceeding under the Act may not be entertain....
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....
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