Case Law Details
Veteran Security Service Vs Union Bank of India (Gauhati High Court)
The record indicates that the respondent Bank initiated proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) and has followed the procedure as prescribed under the provisions of the SARFAESI Act. What is predominantly challenged in this petition is the possession notice issued under Rule 8(1) read with Section 13(4) of the SARFAESI Act.
The petitioners have an efficacious alternative remedy by way of filing an appeal under Section 17 of the SARFAESI Act before the Debts Recovery Tribunal and, therefore, no interference is called for in this petition.
Following the observations of the Hon’ble Apex Court in the case of Authorized Officer, State Bank of Travancore (supra), we are of the view that this writ petition is not maintainable on ground of availability of alternative remedy and hence, not entertained.
FULL TEXT OF THE JUDGMENT/ORDER OF GAUHATI HIGH COURT
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