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1 - 6 of 6 (0.20 seconds)Section 17 in The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002 [Entire Act]
Article 226 in Constitution of India [Constitution]
Article 227 in Constitution of India [Constitution]
Section 14 in The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002 [Entire Act]
K. Virupaksha vs The State Of Karnataka on 3 March, 2020
5. The Division Bench of this Court, in
W.A.No.1305/2021 disposed on 23.12.2021, while taking
cognizance of judgment rendered by the Hon'ble Apex
Court in the case of K.Virupaksha and another Vs.
State of Karnataka1 has held that the SARFAESI Act is
complete code in itself which provides procedure to be
followed by the secured creditor. The Division Bench
further held that the SARFAESI Act also contemplates
remedy for a borrower. The Hon'ble Apex Court in the case
of K.Virupaksha (cited supra) taking note of the authority
vested with DRT under sub-section (3) in Section 17 has
held that the Legislature by including sub-section (3) in
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(2020) 4 SCC 440
-4-
WP No. 102035 of 2023
Section 17 has gone to the extent of vesting the DRT with
authority to even set-aside a transaction including sale and
to restore possession to the borrower in appropriate cases.
Therefore, the Apex Court has come down heavily on High
Courts entertaining writ petitions questioning the orders
passed under the provisions of SARFAESI Act which
squarely fall within the domain of DRT. The principles laid
down by the Apex Court in the judgment cited supra
followed by the Division Bench, binds on this Court.
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