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2014 Supreme(Mad) 2550

M.JAICHANDREN, R.MAHADEVAN
M. R. Thiruvarangan – Appellant
Versus
Asset Reconstruction Company (India) Ltd. , Chennai through its Authorized Officer – Respondent


Advocates Appeared:
For the Petitioner:G. Kandha Vadivelan, Advocate.
For the Respondents: Pala. Ramasamy, Standing Counsel.

Judgment

M. Jaichandren, J.

1. Heard Mr. G. Kandha Vadivelan, the learned counsel appearing on behalf of the petitioner, as well as Mr. Pala. Ramasamy, the learned Standing Counsel appearing on behalf of the respondents.

2. It is found that, in the present Writ Petition, certain issues had arisen, relating to the action initiated by the respondent bank, under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.

3. Even though various grounds have been raised by the petitioner, we are of the considered view that the petitioner ought to make his claims, relating to the issue arising for the consideration of this Court, before the appropriate forum, as provided under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. We make it clear that it would be open to the petitioner to raise all the grounds available to him, before the appropriate forum, as per law.

4. It is noted that the Supreme Court, in United Bank of India v. Satyawati Tondon and others, reported in (2010) 8 SCC 110, had made it clear that the scope of interference by this Court, under Article 226 of the


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