Notices under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as “SARFAESI Act”) were issued on 07.08.2021 and 12.08.2021, respectively, which were duly replied to by the Respondents on 28.10.2021, seeking twelve months’ time to repay the loan.
Also Read: https://newslaw.in/case-type/civil/inherent-jurisdiction-and-invalid-decree-a-case-summary/
Receiving no response, two notices under Section 13(4) of the SARFAESI Act, were issued on 02.12.2021 and 20.12.2021. Taking note of the then prevailing situation resulting in the post of Presiding Officer lying vacant for proper adjudication in various Tribunals, an order was passed by this Court in Special Leave Petition No 10911 dated 16.12.2021, 8.
The learned Senior Counsel appearing for the Appellants fairly submitted that the relief granted by the High Court may not be disturbed while pressing for the reiteration of law which might guide the High Court in not entertaining such writ petitions in the future.
The learned Senior Counsel took us through the following decisions: Phoenix Arc Private Limited vs Vishwa Bharati Vidya Mandir & Ors., (2022) 5 SCC 345.
While appreciating the stand taken by the Appellants, it is submitted that when extreme steps are taken, a litigant may not have any other option except to approach the writ court. A writ of certiorari is to be issued over a decision when the Court finds that the process does not conform to the law or statute.
Section 17(1) of the SARFAESI Act gives an expansive meaning to the expression “any person”, who could approach the Tribunal.
Approaching the High Court for the consideration of an offer by the borrower is also frowned upon by this Court.
Also Read: https://newslaw.in/case-type/criminal/conviction-upheld-for-murder-and-concealment-of-body/
Sagar Thomas, (2003) 10 SCC 733, 12 United Bank of India v. Satyawati Tondon, (2010) 8 SCC 110, 13 State Bank of Travancore v. No costs.
Case Title: M/S. SOUTH INDIAN BANK LTD. Vs. NAVEEN MATHEW PHILIP (2023 INSC 379)
Case Number: C.A. No.-002861-002862 / 2023
