RAVI JOSHI Vs. STATE OF MADHYA PRADESH

JUDGEMENT

(1.) The present petition has been filed under Article 226 of the Constitution of India seeking quashment of the order under Sec. 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred as "SARFAESI Act, 2002").

(2.) At the outset, learned counsel raised point regarding maintainability of the application under Sec. 14 of the SARFAESI Act, 2002 on the ground that an earlier application under Sec. 14 of the SARFAESI Act, 2002 in respect of the same secured asset had already been filed and disposed of. It is contended that a repeated application is not maintainable.

(3.) Counsel for the respondent bank argued that there is no bar under Sec. 14 of the SARFAESI Act, 2002 to file repeated application. The principle of res judicata would not apply.