M/S Vatika One India Next Private ... vs Indiabulls Commercial Credit Limited on 19 December, 2022
14.23. This is further indicated by the language of Section 17 of
the SARFAESI Act, which restricts and limits the power of the
DRT to examine the actions as taken by the secured creditor,
only to be in accordance with the SARFAESI Act and the Rules
as made thereunder and not otherwise. If the intention of the
legislature was to confer absolute and unfettered jurisdiction
upon the DRT, vis-a-vis the ‗security interest', it would have
laid down that all questions about any right or liability, of any
nature whatsoever, which may arise in respect of the ‗security
interest', even if raised by a stranger to the ‗security interest',
which may be in respect of any civil rights as may be claimed
therein, as available to any person, whether under a Statute or
under the Civil Law, shall be determined by the Tribunal or
authority constituted by it and provided the machinery to
address, decide and enforce such right and not limited to
examining such claim, to the limited extent as indicated above,
of the action of the secured creditor, being in accordance with
the provisions of the Act and Rules made thereunder.
[Ramalinga Samigal Madam (supra) explaining the second
principle in Dhulabhai (supra)].‖