ROHIT SHEKHAR Vs. STATE OF JHARKHAND

JUDGEMENT

(1.) This writ petition is filed under Article 226 of the Constitution of India wherein the order dtd. 25/1/2019 as contained under Annexure-5 in pursuance to the notice issued under Sec. 13(4) of the Securitisation and Reconstruction of Finance Assets and Endorsement of Security Act, 2002. The petitioner/borrower has been restrained not to deal with the property and any relief in the property as per subject to the charge of the Axis Bank Limited.

(2.) Admittedly the petitioner has invoked the jurisdiction conferred to this Court under Article 226 of the Constitution of India in questioning the action initiated by the respondent-Bank after issuance of notice has been issued under Sec. 13(4) of the SARFAESI Act, 2002.

(3.) It is held by the Hon'ble Apex Court in the case of United Bank of India Vrs. Satyawati Tondon, 2010 8 SCC 110 , wherein it has been laid down that a proceeding if initiated under Sec. 13(4) of the SARFAESI Act, 2002 for which the remedy is available under Sec. 17 of the Act by approaching the Tribunal of alternative remedy under Sec. 18 before the appellate Tribunal of the legislation, on the basis of object and purpose of the legislation a writ petition ought to have been entertained in view of the alternate statute remedy available and therefore it has been held at Paragraphs-43 and 55 which is being referred hereinbelow:-