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Civil suit barred under Section 34 of SARFAESI Act; jurisdiction lies with Debt Recovery Tribunal
Case Law Details
- Case Name
- Omnarayansri Agrifarmer Pvt. Ltd. Vs Punjab National Bank and 2 others (Allahabad High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Allahabad High Court
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Omnarayansri Agrifarmer Pvt. Ltd. Vs Punjab National Bank and 2 others (Allahabad High Court)
Allahabad High Court held that the Commercial Court was justified in rejecting the plaint as well as injunction application, as the suit was barred under Section 34 of the SARFAESI Act. The bar of civil court applies to all matters which may be taken cognizance of by the Debt Recovery Tribunal.
Facts- The plaintiff obtained a cash credit limit and term loan facility from the respondent-Bank for running its business and executed certain documents in relation thereto. After exchange of...
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