None
RU
Madras HC Dismisses SARFAESI Writ, Directs Borrower to Approach DRT Within 30 Days
['Author Info', 'Name', 'Qualification', 'Company', 'Location', 'Articles Published', 'View Full Profile', 'More Ca Sandeep Kanoi', 'August']
taxguruin
The Court further held that the SARFAESI Act is a complete code, with Section 17 providing a remedy before the Debts Recovery Tribunal (DRT) against measures under Section 13(4).
The writ petition was therefore dismissed for availability of an alternative remedy.
If approached within that period, the DRT was directed to exclude the period spent bona fide pursuing the writ petition while considering delay condonation.
At the outset, we must address a fundamental jurisdictional issue that goes to the root of the maintainability of this writ petition.
Section 17 of the SARFAESI Act provides a comprehensive mechanism for any person aggrieved by the measures referred to in Section 13(4) of the SARFAESI Act to approach the Debts Recovery Tribunal (DRT).