Proceeding under SARFAESI Act and IBC is saved from provision providing precedence to BUDS Act

HDB Financial Services Limited Vs Sub Registrar (Kerala High Court) Kerala High Court held that action/proceeding under the the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 [SARFAESI Act] and the Insolvency and Bankruptcy Code [IBC] is saved from the provision providing precedence to the Banning of Unregulated Deposit Schemes Act, 2019 [BUDS Act]. Facts- One Rajeev A.R and one Sunitha Kumari S.R (the borrowers) availed loans from the petitioner-financial institution by mortgaging all pieces and parcels of the land. The borrowers defaulted...