SC Reiterates Limits on Article 226 as SARFAESI Provides Effective Statutory Remedy

South Indian Bank Ltd. & Ors. Vs Naveen Mathew Philip & Anr. ETC.  (Supreme Court of India) The Supreme Court considered appeals arising from orders of the Kerala High Court, where borrowers had invoked the High Court’s writ jurisdiction under Article 226 of the Constitution to challenge recovery measures initiated under the SARFAESI Act, 2002 and to seek enforcement of unilateral one-time settlement proposals. The borrowers had obtained two loans, which were classified as Non-Performing Assets (NPAs) on 27 May 2021. Following notices issued under Section 13(2) of the SARFAESI A...