HIRAMANI JAISWAL S/O LATE PARMATMA JAISWAL Vs. UCO BANK (A GOVERNMENT OF INDIA UNDER TAKING) THROUGH AUTHORIZED OFFICER

JUDGEMENT

(1.) This writ petition is directed against the proceeding initiated by the respondent Bank under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter called, 'Act of 2002').

(2.) Learned counsel for the petitioner would submit that the proceeding initiated by the respondent Bank is without jurisdiction and without authority of law and deserves to be set aside.

(3.) Learned counsel appearing for the respondent Bank would submit that the remedy available to the petitioner is to file an application before the Debt Recovery Tribunal under Section 17 of the Act of 2002.