Exercising power under Article 226 unjustified as remedy available before Debt Recovery Tribunal

Abhisek P. Tibrewala Vs Union of India (Bombay High Court) Bombay High Court held that exercise of power under Article 226 untenable as remedy before Debt Recovery Tribunal available to the petitioner challenging forfeiture of earnest money deposit. Facts- The Petitioner has sought to challenge the communication dated 22 February 2008, issued by Respondent No.2-Bank forfeiting the Earnest Money Deposit of Rs. 13,75,000/- with direction to the Respondent-Bank to refund the amount with 18% interest. The Respondent No.2 initiated proceedings under Section 14 of the Secularisation and Reconstructi...