2004 (2) TMI 359

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..... tju, J. - Heard learned counsel for the parties. 2. The petitioner has challenged the validity of the impugned notice dated 25-11-2003 (Annexure-7 to the petition). 3. It is admitted that the petitioner-company took a loan from the respondent Bank, but it did not re-pay the loan amount as scheduled. Hence the impugned notice dated 25-11-2003 was issued by the Bank to the petitioner callin .....

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..... the Recovery of Debts Due to Banks and Financial Institutions Act, 1993. At any event, the Securitisation Act provides an additional remedy for recovery of debts apart from that provided in the Recovery of Debts Due to Banks and Financial Institutions Act. As held by the Supreme Court in Secretary Thirumurugan Co-operative Agricultural Credit Society v. M. Lalitha 2004 ALJ 172, an Act can prov .....

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