Reference to SARFAESI Act in Agreements does not Bar Arbitration: Bombay HC

Tata Motors Finance Solutions Limited Vs Naushad Khan (Bombay High Court) Introduction: The Bombay High Court, in the case of Tata Motors Finance Solutions Limited vs. Naushad Khan, recently addressed a significant legal question regarding the invocation of arbitration proceedings despite the existence of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). The respondents contended that the petitioner, being a financial institution under the SARFAESI Act, should exclusively resort to the statutory remedies provided by the Act...