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G. S. SANDHAWALIA, HARPREET KAUR JEEWAN
Star Guest House – Appellant
Versus
State of Haryana – Respondent
JUDGMENT
G.S. Sandhawalia, J. - Challenge in the present writ petition filed under Articles 226 and 227 of the Constitution of India is primarily to the order dated 28.11.2019 (Annexure P-1) passed by respondent No.2-District Magistrate, Panchkula whereby, the application under Section 14 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short 'the 2002 Act') filed by the predecessor of respondent No.4 namely M/s. Religare Finvest Ltd. was allowed.
2. The ancillary prayers which are made are for restructuring of the loan accounts on the ground that the RBI Guidelines dated 17.03.2016 (Annexure P-20) provide a framework and the matter has to be referred to the designated committee. The consideration of the representation dated 25.09.2021 (Annexure P-15) is also sought.
3. The case has a checkered history and shows how the provisions of the 2002 Act which are meant to realize the amounts of the financial institutions can be stretched agonisingly for years by the litigant who firstly takes resort to the civil suit and thereafter jumps on the bandwagon of Article 226 of the Constitution of India and eventually now has to be
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.
Point of Law : There is no repugnancy nor inconsistency between the two remedies under the RDB Act and the Securitisation Act, the Supreme Court observed that “Together they constitute one remedy and....
The main legal point established in the judgment is that exceptional circumstances are required for a writ petition against the measures under the Securitisation Act, and the bank cannot proceed with....
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