GAURAV GUMBER Vs. PUNJAB GRAMIN BANK

JUDGEMENT

(1.) The petitioner, who is borrower/guarantor, has approached this Court challenging the notices issued under Ss. 13(2) and 13(4) of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short SARFAESI Act), as well as order dtd. 26/11/2019 issued u/s 14 of the SARFAESI Act on various grounds.

(2.) The Apex Court has consistently held that High Courts should refrain from interfering under Article 226 of the Constitution in SARFAESI proceedings. The SARFAESI Act, 2002 is a complete code which not only provides for a detailed recovery mechanism but also remedies before the Debts Recovery Tribunal (DRT) and thereafter, Debts Recovery Appellate Tribunal (DRAT).

(3.) From the averments in the petition, it does not appear that the petitioner has availed the statutory alternative remedy of approaching the DRT and/or DRAT.