Mr. A.N. Jindal, J. (Oral) - The order dated 17.02.2012 (Annexure P-1) passed by the trial Court dismissing the application for rejecting the plaint is under challenge.

2. The prime question, requires adjudication by this Court is, “whether the jurisdiction of the Civil Court to try a suit for the action taken or to be taken under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for brevity ‘the SRFAESI Act’) as well as the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, is barred and consequently, the plaint could be rejected on that account?”

3. The factual background of the case is that respondent No.5-Satnam Agri Products was a private limited company having its directors namely Harjit Singh, Kamaljit Kaur, Joginder Kaur wife of Nirmal Singh. They took various financial assistance of Term Loans and Working Capital Finance from the petitioner along with M/s Indian Overseas Bank and National Bank for Agriculture and Rural Development (NABARD), in which several properties were mortgaged. Joginder Kaur, one of the directors, also made an equitable mortgage of the land measuring 6 Kanals 4 Marlas