The Court held that Section 34 of the SARFAESI Act bars civil courts and the High Court from exercising revisional jurisdiction to interdict an auction under the Act. Liberty was granted to approach the Debt Recovery Tribunal.
Petitioner granted liberty to approach the Debt Recovery Tribunal; revision petition dismissed.
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THE HON’BLE SRI JUSTICE VILAS V. AFZULPURKAR
C.R.P.No. 2210 of 2014
Date of Judgment: 17.7.2014
Between:
Tatavarthi Pullaiah
…Petitioner
And
Mr. Neelisetti Narasimha Rao and another
..Respondents
THE HON’BLE SRI JUSTICE VILAS V. AFZULPURKAR
C.R.P.No. 2210 of 2014
ORDER:
Heard learned counsel for the petitioner.
The petitioner seeks to interdict the auction of his property being conducted by the second respondent under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. In view of bar under Section 34 of the Act neither a Civil
Court nor this Court has jurisdiction exercising revisional jurisdiction to entertain the matter under the Act and interdict the proposed auction.
Hence giving liberty to the petitioner to approach the Debt Recovery Tribunal for appropriate remedy, the revision petition is dismissed along with miscellaneous applications, if any. No costs.
_________________________ VILAS V. AFZULPURKAR, J
Dt. 17.7.2014 KR
3 issues framed by the court
Whether the High Court has jurisdiction under Section 34 of the SARFAESI Act to entertain a revision petition seeking to interdict the auction of property.
Whether the Court can exercise revisional jurisdiction to stop the proposed auction conducted under the SARFAESI Act.
What remedy is available to the petitioner who seeks to interdict the auction of his property.
1 provisions across 1 enactments
Tatavarthi Pullaiah
Mr. Neelisetti Narasimha Rao
Vilas V. Afzulpurkar
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
