(1.) Challenging the possession notice dtd. 11/10/2022, issued by the second respondent - Housing Finance Company, the petitioner has come forward with this writ petition.
(2.) Heard Mr.A.Navaskhan, learned counsel for the petitioner. Having regard to the nature of the order proposed to be passed in this writ petition, notice to the respondents is dispensed with.
(3.) Though there is availability of expeditious and effective remedies under the SARFAESI Act, this writ petition has been filed, since the Debts Recovery Tribunal, Madurai, is not functional. Before going into the issue raised in this writ petition, we deem it fit to consider the following sequence of the provisions under the SARFAESI Act and the decisions of the Hon'ble Supreme Court as well as this Court in this regard, which will make one understand about the enforcement of security interest by the Banks or financial institutions in case of default in repayment of secured debt, vice versa the rights of the borrower against such enforcement.
ABOUT US "REGENT COMPUTRONICS PVT. LTD." is a Company incorporated in 1991 under the provisions of the Companies Act, 1956. Since its inception to 1995, the Company was busy in carrying out the activities related to various Banks' Job Work..
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