SWAROOP CHAND DHIMAN Vs. PUNJAB NATIONAL BANK

JUDGEMENT

(1.) The instant petition has been filed for the grant of following substantive reliefs:-

(2.) It would be evident from the pleadings that the proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short "SARFAESI Act') are pending adjudication before the Competent Authority and the petitioners under the guise of invoking the extraordinary jurisdiction under Article 226 of the Constitution of India, are trying to quash the proceedings so initiated by the respondent-Bank against them under the SARFAESI Act.

(3.) The Hon'ble Supreme Court has strongly deprecated the tendency of the High Courts in entertaining the writ petitions filed under Article 226 of the Constitution of India by the aggrieved party, without availing alternative and efficacious remedy available to them, more particularly, in the matters, which arise under the SARFAESI Act.