JUDGMENT

Jyotsna Rewal Dua, Vacation Judge (Oral) - Heard learned counsel for the petitioner.

2. By way of instant petition, petitioner has challenged the proceedings initiated by the respondents/Bank under the Securitization and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (SARFAESI). A Division Bench of this Court in CWP No.5730/2020, titled as M/s Amar Traders Vs. Punjab National Bank & Others, decided on 17.12.2020, relying upon various pronouncements of Hon'ble Apex Court, held that when an efficacious alternative remedy under the SARFAESI Act is available to the petitioner then the writ petition under Article 226 of the Constitution of India shall not be maintainable. Relevant portion thereof reads as under:-

"4. The Hon'ble Supreme Court has strongly deprecated the tendency of the High Courts in entertaining the writ petitions filed under Article 226 of the Constitution of India by the aggrieved persons without availing alternative and efficacious remedy available to them and more particularly, in the matters, which arise under the SARFAESI Act.

"5. In State Bank of Travancore vs. Mathew K.C., (2018) 3 SCC 85, the Hon'ble Supreme Court whil