M/S. South Indian Bank Ltd. vs Naveen Mathew Philip on 17 April, 2023
Of course, if the petitioner is able
to show that its case falls within any of the exceptions carved out in Baburam Prakash
Chandra Maheshwari v. Antarim Zila Parishad [AIR 1969 SC 556], Whirlpool
Corpn. v. Registrar of Trade Marks [(1998) 8 SCC 1] and Harbanslal Sahnia v. Indian
Oil Corpn. Ltd. [(2003) 2 SCC 107] and some other judgments, then the High Court
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may, after considering all the relevant parameters and public interest, pass an
appropriate interim order.”
Phoenix ARC (P) Ltd. v. Vishwa Bharati Vidya Mandir, (2022) 5 SCC 345,
“18. Even otherwise, it is required to be noted that a writ petition against the private
financial institution — ARC — the appellant herein under Article 226 of the Constitution
of India against the proposed action/actions under Section 13(4) of the SARFAESI Act can
be said to be not maintainable. In the present case, the ARC proposed to take action/actions
under the SARFAESI Act to recover the borrowed amount as a secured creditor. The ARC
as such cannot be said to be performing public functions which are normally expected to
be performed by the State authorities. During the course of a commercial transaction and
under the contract, the bank/ARC lent the money to the borrowers herein and therefore the
said activity of the bank/ARC cannot be said to be as performing a public function which
is normally expected to be performed by the State authorities. If proceedings are initiated
under the SARFAESI Act and/or any proposed action is to be taken and the borrower is
aggrieved by any of the actions of the private bank/bank/ARC, borrower has to avail the
remedy under the SARFAESI Act and no writ petition would lie and/or is maintainable
and/or entertainable.