Secured creditor cannot proceed under SARFAESI following adverse civil suit judgment

Jasmin K. Vs State Bank of India (Kerala High Court)

The case of Jasmin K. vs. State Bank of India, as adjudicated by the Kerala High Court, raises a pivotal question regarding the continuation of measures under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act), after the dismissal of a civil suit filed by the secured creditor.

Jasmin K., the petitioner, had availed a car loan from the State Bank of India (SBI) and had executed necessary security documents. Despite claiming to have paid the entire loan amo

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