Writ not entertained as alternative remedy available under SARFAESI Act

Maa Katyayni Mercantile Pvt. Ltd Vs Indian Bank (Patna High Court)

Patna High Court held that High Courts should not entertain application under Article 226 of the Constitution, if there is an effective remedy available to the aggrieved persons under the provisions of the SARFAESI Act. Accordingly, writ held as not maintainable.

Facts- Petitioner is engaged in business through loans from the banks. The respondent bank granted a Cash Credit Facility of Rs. 150 lakhs on 10.12.2008. Due to unforeseen circumstances, the account turned non-performing asset on 31.

Please become a Premium member. If you are already a Premium member, login here to access the full content.