remedies. The object behind Section 13 of the NPA Act and
Section 17 r/w Section 19 of the DRT Act is the same, namely ... tribunal in appeal under
Section 17(1) of NPA Act. The tribunal being established under Section 3(1)
of the DRT Act. This aspect
than borrowers is clear from Section 19 . Section 19 states that if DRT on application made under Section 17 or the Appellate Tribunal ... upto Section 17 . Adjudication starts only when appeal under Section 17 is filed. In that, the DRT considers whether interest was created, whether it became
making a departure from the principle enshrined in Section 16
of the CPC.
17. Section 17(1) of the SARFAESI Act provides for filing ... thereof under Section 17(7) does not
arise. Under Section 17(7) of the SARFAESI Act only that much of the
DRT
secured assets.
17. Mr. Khanavkar further submitted that Sub-section (2) of Section 17 states that the DRT has to consider whether the measures referred ... under Section 17 accrues only after measures under Section 13(4) of the NPA Act are taken and described the appeal under Section 17
DRT by referring to Section
17(7) of the Securitization Act, which is as under:
" Section 17(7) --Save as otherwise provided in this ... proceeding under Section 17 of the Securitization Act
resulting in pendency of Section 17 proceedings on the file of the
DRT for such a long
provisions i.e. Section 17(2) read with Section 17(1) of the
Act and Section 17(1) of the RDB Act in juxtaposition bring ... empowering section/provision i.e. 17(2) read with
Section 17(1) .
17.2
On examination of Section 17(2) of the Act and Section
Section 16 of the CPC.
17. Section 17(1) of the SARFAESI Act provides for filing of the appeal / application thereunder not to any DRT ... under Section 17(1) of the SARFAESI Act and the question of application thereof under Section 17(7) does not arise. Under Section 17
section 17 of the said Act is not a suit and therefore, section 16 of
the CPC would have no application. Secondly, section 17 ... Section 17 thereof within 45 days from the date on which
such measures are taken. Section 17 does not circumscribe as to
which DRT would
Section 13(4) of the Act. The
legislature by including sub-section (3) in Section 17 has gone to
the extent of vesting the DRT ... section
18 itself. That the above section has two subsections viz.
sub-section (1) and sub-section (2). That subsection (1) of Section
creditor under Section 13(4), the remedy available to such
person is to file an application before the DRT under Section 17.
Page ... Section 14 and consequently there is an alternative
statutory remedy available to the petitioner by filing of an
application before the DRT under section 17
