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MOHD. ASLAM
Maheshwar Dutt Mishra Alias Maheshwar Dutt – Appellant
Versus
Punjab National Bank – Respondent
JUDGMENT :
1. Heard Shrikant Mishra, learned counsel for the petitioners, Sri P.P. Singh, learned counsel for the respondent nos.1 to 4 and perused the record.
2. The instant writ petition has been filed on behalf of the petitioner with the following prayer:-
B. Issue a writ, order or direction in the nature of mandamus directing the respondent bank to accept the payment being made towards outstanding dues by means of bankers cheque dated 14.9.2021 prepared in its favour by the petitioners and release the mortgaged property from its charge.
C. Issue a writ, order or direction in the nature of certiorari quashing the sale proceedings conducted by the respondent bank pursuant to sale notice dated 18.8.2021 and all other consequential actions taken by the respondent bank."
3. It is submitted by learned counsel for the petitioners that the
The main legal point established in the judgment is that when an alternative remedy is available to challenge an order under the SARFAESI Act, the instant writ petition is not maintainable.
The DRAT has the power to remand a SARFAESI application to the DRT for fresh adjudication, where the DRT has not considered various disputed issues raised by the parties, including service of notice,....
Auction sale under SARFAESI Act upheld; simultaneous civil proceedings do not invalidate the completed transaction, and allegations of undervaluation found unsubstantiated.
The main legal point established in the judgment is the interpretation of Rule 9(4) and 9(5) of the Security Interest (Enforcement) Rules, 2002, highlighting the requirement for the purchaser to pay ....
The court established that the right of redemption under the SARFAESI Act is extinguished upon the issuance of a sale certificate, and timely challenge to bank actions is essential.
Failure to comply with the provisions of Section 13(8) of the SARFAESI Act, 2002 and the availability of an alternative remedy before the Debts Recovery Tribunal rendered the writ petition not mainta....
The Tribunal must consider merits and apply due diligence in SARFAESI Act proceedings, treating them like civil suits, to ensure fair adjudication.
While expressing the aforesaid view, we are conscious that the powers conferred upon the High Court under Article 226 of the Constitution to issue to any person or authority, including in appropriate....
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