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The Authorised Officer vs Rajeshwari B Shetty on 23 December, 2021 cites

United Bank Of India vs Satyawati Tondon & Ors on 26 July, 2010

10. The Apex Court in the case of United Bank of India .vs. Satyawati Tondon and others4 has heavily come down on High Courts entertaining writ petitions pertaining to the proceedings arising out of SARFAESI Act. The Apex Court in the said judgment has clearly held that High Court should not entertain writ petitions when the aggrieved party has a efficacious remedy before the Tribunal. It would be useful to refer Paragraph 55 of the judgment which reads as under:
Supreme Court of India Cites 49 - Cited by 3973 - Full Document

Auth.Offr.,Indian Overseas Bank & Anr vs M/S.Ashok Saw Mill on 16 July, 2009

"15. The SARFAESI Act is a complete code in itself which provides the procedure to be followed by the secured creditor and also the remedy to the aggrieved parties including the borrower. In such circumstance as already taken note by the High Court in writ proceedings if there is any discrepancy in the manner of classifying the account of the appellants as NPA or in the manner in which the property was valued or was auctioned, the DRT is vested with the power to set aside such auction at the stage after the secured creditor invokes the power under Section 13 of SARFAESI Act. This view is fortified by the decision of this Court in the case of Authorised Officer, Indian Overseas Bank & Anr. vs. Ashok Saw Mill (2009) 8 SCC 366 wherein it is held hereunder: "34. The provisions of Section 13 enable the secured creditors, such as banks and financial institutions, not only to take possession of the secured assets of the borrower, but also to take over the management of the business of the borrower, including the right to transfer by way of lease, assignment or sale for realising secured assets, subject to the conditions indicated in the two provisos to clause
Supreme Court of India Cites 18 - Cited by 148 - A Kabir - Full Document
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