taken under the SARFAESI Act or the DRT Act . Section 35 of the SARFAESI
Act is substantially similar to Section ... challenge the action taken under
Section 13(4) by filing an application under Section 17 of the SARFAESI Act and
a civil suit
thereafter, to take appropriate action as
envisaged under Section 17 of the SARFAESI Act. After the dismissal of
the writ petition with the aforesaid observation ... good faith',
which is protected under Section 32 of the SARFAESI Act, 2002. With the
abovestated investigations, the present report is concluded
then the
correct interpretation of sub- section (4) of Section 13
read with Section 35 of the SARFAESI Act would be
that a lease will ... section (2) of Section 65A of the Transfer of Property Act and
such lease is binding on the mortgagee. Sub- section (3) of
Section
measures falling in Section 13 (4) so as to
attract the rigor of Section 17 of the SARFAESI Act.
It was urged that the dispute ... examine the legality of such action.
19. Section 13(4) and Section 17 of the SARFAESI
Act, Rules 8 and 9 of the Security
Interest
appellants, has placed before us all
the relevant sections under the SARFAESI Act as well as the
relevant rules under the 2002 Rules ... Banks and Financial
Institutions Act, 1993 (hereinafter referred to as the “Recovery
of Debts Act”) and the SARFAESI Act , and thus, we would
destroy
statutory, efficacious remedy
available by way of appeal under Section 17 of the SARFAESI Act, the High Court ought
not to have entertained the writ ... Debts Recovery Tribunal by filing an application under Section 17 of the SARFAESI Act,
15
2002, but the order of the Tribunal indeed was appealable
Act, whereby the provisions of Sub-
13
Sections (2) and (3) of Section 17 of the SARFAESI
Act were substituted with Sub-Sections ... Section (4) of Section 13 of
the Act, it would be open to the borrowers to file
16
appeals under Section 17 of the Act
appealable
order before the Debts Recovery Appellate Tribunal under Section
18 of the SARFAESI Act, 2002 and the petition filed by the
respondent borrowers directly ... dated 1st August, 2019 was an
appealable order under Section 18 of the SARFAESI Act, 2002 and
in the ordinary course of business, the borrowers
under SARFAESI Act .
Thereafter, it filed the appeal under Section 18 of the SARFAESI Act
before the DRT. This appeal was dismissed ... possession etc.
With regard to Section 13(1) , this Court observed that
Section 13(1) of SARFAESI Act, 2002 gives a free hand
Section 65 A of the Transfer of Property Act [hereinafter
referred to as the ‘ T.P. Act ’].
8
14. Section 14 of the SARFAESI Act ... SARFAESI Act and Section 65 A of the Transfer of
Property Act . While Section 13(13) of SARFAESI prohibits a
borrower from leasing
