The appropriate remedy under the SARFAESI Act for borrower complaints regarding seizures is to approach the Debts Recovery Tribunal.

JUDGMENT

(Dated this the 27th day of November, 2025)

The petitioner had availed a business loan of Rs.15,00,000/- from the respondent bank. When default occurred in repayment, the bank initiated proceedings under Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002 and Ext.P3 notice was issued to the petitioner.

2. On 21.10.2025, this Court granted an interim order staying all further coercive steps against the petitioner for a period of six weeks on condition that the petitioner remits an amount of Rs.10,00,000/- within one month. Today, when the case is taken for consideration, it is submitted that the said direction has not been complied with.

In such circumstances, the remedy available to the petitioner is to approach the Debts Recovery Tribunal under Section 17 of the SARFAESI Act, in view of the decision of the Hon’ble Apex Court in South Indian Bank Ltd v. Naveen Mathew Philip [(2023) 17 SCC 311] .

The writ petition is dismissed accordingly.