SARFAESI/HC: "Civil Court has no jurisdiction to try suit" Related To "SARFAESI matters" Argues the Party ; Bank's Petition Allowed

SARFAESI Act, 2002 : A Judgment on That Act

In a recent Judgment, a bank had filed the petition and argued on the basis of the amendment made in the SARFAESI Act, 2002. Bank had even issued notice under S.13(4) of the SARFAESI Act, 2002. Here, the properties were sold in Court auction in favour of a party. Bank's counsel relied on the Judgment pronounced by Hon'ble Supreme Court [in that Case, Hon'ble Supreme Court had explained how S.17 of SARAESI Act,2002 is relevant]. Now, one of the party opposed the action taken under the SARFAESI Act, 2002 and argued on the aspect of jurisdiction. 

Finally, in this case, the petition by the bank was allowed and a reference was also made to the action taken by Debt Recovery Appellate Tribunal (DRAT) in that regard.

Citation : [2021] GCtR 1247 

Vishal

Guwahati

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