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1 - 10 of 12 (0.26 seconds)Section 17 in The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002 [Entire Act]
The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002
The Recovery Of Debts Due To Banks And Financial Institutions Act, 1993
Section 4 in The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002 [Entire Act]
Agarwal Tracom Pvt. Ltd. vs Punjab National Bank on 27 November, 2017
17. It is also submitted by respondent Nos. 6 and 7 that
this petition is not maintainable as the only remedy is
available to the petitioner is underSection 17of the
SARFAESI Act. Reliance is placed on the judgment of
the Hon'ble Supreme Court, in case titled„Agarwal
Tracom Pvt. Ltd. vs. Punjab National Bank and others'
dated 27.11.2017. This, however, is opposed by learned
counsel for the petitioner by submitting that by not
delivering the possession of the property to the
petitioner by the Bank is not one of the measures
specified under Section 13(4)of the SARFAESI Act,
therefore, provisions of Section 17of the SARFAESI Act
are not attracted, as such, this action of the respondents
cannot be challenged underSection 17of the said Act.
Article 14 in Constitution of India [Constitution]
Agarwal Tracom Pvt Ltd vs Punjab National Bank & Ors on 11 May, 2016
19. At this stage, it is appropriate to refer to the
decision of the High Court of Jammu & Kashmir in case of
S.K. Bakshi (supra), while dealing with the judgment
which is referred to and relied upon by the respondent in
case of Agarwal Tracom (supra), the High Court of
Jammu & Kashmir has held as under:-