Samrath Infrabuild (I) Pvt. Ltd. Indore v. Bank of India

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2016 Supreme(Online)(MP) 10

MADHYA PRADESH HIGH COURT
S.K. Kesharwani, J
Samrath Infrabuild (I) Pvt. Ltd. Indore v. Bank of India

Advocates:
For the Appellant: Senior Counsel
For the Respondents: Shri Nair

Table of Content
1. introduction of appeal against the bank's classification decision. (Para 1)
2. arguments regarding the jurisdiction of the bank's decision. (Para 4 , 5 , 6)
3. court's observation on the authority of banks to classify npa. (Para 8 , 10 , 11 , 12)
4. established necessity for borrowers to seek statutory remedies. (Para 14)
5. concluding that the appeal was dismissed in accordance with law. (Para 15)

1. By this intra court appeal, under S.2(1) of the Madhya Pradesh Uchcha Nyayalaya (Khand Nyaya Peeth Ko Appeal) Adhiniyam, 2005, the appellant (original petitioner) is assailing the order dated 3.11.2015, passed by the writ court in W.P. No. 5311/2015, whereby the learned writ court considering the fact that bank has taken action against the borrower and also taken a symbolic possession of the collateral security and a notice under S.13(2) of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter SARFAESI Act, 2002) and thereafter, bank has taken action under S.13(4) of the SARFAESI Act, 2002, no case for interference is made out as the appellant do have a remedy of approaching before the Debts Recovery Tribunal