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LISA GILL, MANISHA BATRA
Kulwinder Singh – Appellant
Versus
State Bank of India – Respondent
| Table of Content |
|---|
| 1. filing of writ for quashing sarfaesi notice. (Para 1) |
| 2. conditions related to interim orders and compliance. (Para 2 , 3) |
| 3. existence of alternate remedy under debt recovery tribunal. (Para 4) |
| 4. limitations on high court's intervention in financial matters. (Para 5 , 6) |
| 5. dismissal of writ with liberty to pursue other remedies. (Para 7) |
JUDGMENT
Mrs. Lisa Gill, J.
Petitioner in this writ petition is aggrieved of proceedings initiated by the respondent-Bank against him under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as the SARFAESI Act). There is a prayer for quashing notice dated 16.05.2019 (Annexure P-2) under Section 13 (2) of SARFAESI Act and further proceedings arising thereafter. There is a further prayer for directing the respondents to consider restructuring/regularization of loan account of the petitioner on the premise that he is willing to pay the entire defaulted amount.
2. Notice of motion was issued in this writ petition by co-ordinate Bench on 19.07.2019. Status quo regarding possession of the property was directed to be maintained, subject to deposit of Rs. 9,00,0
The SARFAESI Act, 2002 provides a complete code with alternative efficacious remedies, and the extraordinary writ jurisdiction should only be invoked in exceptional circumstances.
The High Court lacks jurisdiction to intervene in proceedings under the SARFAESI Act, reinforcing the necessity for adherence to the statutory remedy framework prior to court interference.
Judicial restraint is required under Article 226 when alternative statutory remedies are available, especially in financial recovery matters.
Writ petitions against SARFAESI proceedings not entertainable due to alternative remedy before Debts Recovery Tribunal.
A writ petition challenging proceedings under the SARFAESI Act is not maintainable when an efficacious alternative remedy is available before the Debts Recovery Tribunal.
Writ petitions against proceedings initiated under the SARFAESI Act are not maintainable when an efficacious alternative remedy is available before the Debts Recovery Tribunal.
Writ petitions against coercive proceedings under the SARFAESI Act are not maintainable when an efficacious alternative remedy is available before the Debts Recovery Tribunal.
Writ petitions against recovery proceedings initiated under the SARFAESI Act are generally not maintainable when an efficacious alternative remedy is available before the Debts Recovery Tribunal.
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