Marwa International v. Deustche Bank
Case brief
What is this about?
The Debts Recovery Tribunal disposed of a Securitization Application seeking to set aside an impugned Section 14 order. The Tribunal held that Section 17 proceedings under the SARFAESI Act are declaratory in nature and issued a declaration upholding the order forcing physical possession.
What did the court decide?
The Securitization Application, Interim Application for Emergency, and Interim Application for Stay are dismissed. A declaration is issued that the rival Section 14 order is valid.