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G. S. SANDHAWALIA, HARPREET KAUR JEEWAN
Monika Fabrics – Appellant
Versus
Bank of Baroda – Respondent
| Table of Content |
|---|
| 1. challenging sale under section 13(4) of the sarfaesi act (Para 1) |
| 2. lack of jurisdiction as alternate remedy exists (Para 2) |
| 3. writ petitions should not be entertained without special reasons (Para 3) |
| 4. rejection of writ petitions against bank notices (Para 4) |
| 5. efficacy of prior remedies under sarfaesi act emphasized (Para 5) |
| 6. judicial caution in exercising writ jurisdiction acknowledged (Para 6) |
| 7. request for auction purchaser details noted (Para 7) |
| 8. writ petition disposed with directions (Para 8 , 9) |
JUDGMENT
G.S. Sandhawalia, J. (Oral)
The challenge in the present writ petition filed under Articles 226 and 227 of the Constitution of India is to set aside the sale of the sole residential house conducted by the bank on 14.03.2023. The violation of The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short 2002' Act) is alleged on the ground that the property has been sold at a throw away price at Rs.1,53,12,000/- and the procedure prescribed has not been followed and the value of the property was Rs.3.25 crores.
2. A perusal of the Memo of Parties would go on to show that neither the auction purchaser is a
The main legal point established in the judgment is that the availability of an alternative remedy under the Act may render a writ petition under Article 226 not maintainable.
The main legal point established in the judgment is that actions under Section 14 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 are amena....
though existence of an alternative remedy is not an absolute bar to the maintainability of a writ petition under Article 226 of the Constitution, but a writ petition can be entertained in exceptional....
Though existence of an alternative remedy is not an absolute bar to the maintainability of a writ petition under Article 226 of the Constitution, but a writ petition can be entertained in exceptional....
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