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G. S. SANDHAWALIA, HARPREET KAUR JEEWAN
Ai Papers Pvt. Ltd. – Appellant
Versus
Union Bank of India – Respondent
| Table of Content |
|---|
| 1. demand notice and outstanding amount details. (Para 1 , 2) |
| 2. court's perspective on alternative remedies. (Para 3) |
| 3. statutory remedies under sarfaesi act highlighted. (Para 4) |
| 4. high court's discretion limited by alternative remedies. (Para 5) |
| 5. a borrower’s access to drt under sarfaesi act. (Para 6) |
| 6. rejection of extraordinary jurisdiction. (Para 7) |
| 7. dismissal of writ petition with alternative remedies. (Para 8) |
JUDGMENT
Mr. G.S. Sandhawalia, J. (Oral)
Challenge in the present writ petition filed under Articles 226/227 of the Constitution of India is to the demand notice issued under Section 13 (2) of the Securitization and Re-construction of Financial Assets and Enforcement of Security Interest Act, 2002 dated 25.04.2022 (Annexure P-4) and the possession order dated 02.05.2022 (Annexure P-5)
2. The said demand notice (Annexure P-4) would go on to show that as on 31.03.2022 a sum of Rs. 10,23,96,771.87 was outstanding.
3. We are, thus, of the considered opinion that the bank has only taken steps to secure possession by approaching the District Magistrate and if the petitioner has any grievance, he has an alternative and efficacious remedy in accordance with l
Exhaustion of alternative remedies before approaching the High Court under Article 226 of the Constitution, as emphasized by the provisions of the SARFAESI Act and supported by relevant Supreme Court....
Writ jurisdiction under Article 226 should not be exercised when an effective alternative remedy exists under statutory provisions, thereby emphasizing self-restraint by High Courts in recovery matte....
The main legal point established is that when an alternate remedy is provided under a statute, the court may decline to entertain a writ petition under Article 226 of the Constitution of India.
The High Court should not entertain a writ petition under Article 226 if an effective remedy exists under the SARFAESI Act, emphasizing the importance of exhausting statutory remedies.
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