Dr. Abdul Rasheed @ A.R.Babu vs Ifci Limited on 3 December, 2020
Learned counsel for the 1 st respondent further relied on
the judgment of this Court in W.P.(C) No.3658 of 2020 dated
19.11.2020 (Mohan K. George vs. Authorized Officer, IFCI
Limited & others) and contended that in view of alternate and
most efficacious remedy prescribed by Section 17 of the
SARFAESI Act, the writ petition as framed and filed cannot be
entertained. Learned counsel also urged that the moratorium
prescribed under Section 14 of the Insolvency and Bankruptcy
Code is not applicable against the guarantor of the corporate
debtor.