9911796707
TMI Blog2015 (3) TMI 239X X X X Extracts X X X X X X X X Extracts X X X X ..... eady been taken by the bank. The respondent bank refer case law Jagdish Singh [2014 (3) TMI 73 - SUPREME COURT] in support of his contention that the suit is barred under section 34 of SARFAESI Act. The plaintiff is not remediless. In fact, the plaintiff has filed an appeal under Section 17 of the SARFAESI Act. The said appeal is pending. In view thereof, the suit is barred by law and stands dismissed. - Decided against the appellant. - G. A. No. 914 of 2014 - - - Dated:- 3-12-2014 - SOUMEN SEN, J. For the Appellant : Mr. Satarup Banerjee For the Respondent : Mr. Ranjan Bachawat, Sr. Adv., Mr. Sreyea Basu Mallick Soumen Sen, J.:- This application is at the instance of the defendant Bank for rejection and or dism ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... half of the bank submits that the suit is barred under Section 34 of the SARFAESI Act. Section 34 of the SARFAESI Act is the ouster clause. The said Section oust the jurisdiction of the Civil Court. The said Section reads:- S.34.Civil Court not to have jurisdiction - No civil Court shall have jurisdiction to entertain any suit or proceeding in respect of any matter which a Debts Recovery Tribunal or the Appellate Tribunal is empowered by or under this Act to determine and no injunction shall be granted by any court or other authority in respect of any action taken or to be taken in pursuance of any power conferred by or under this Act or under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (51 of 19 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ficer concerned to use such force as may be necessary. After the possession is taken the assets and documents will be forwarded to the secured creditor. iii) The third situation will be one where the secured creditor approaches the Magistrate concerned directly under section 14 of Act. The Magistrate will thereafter scrutinize the application as provided in section 14 and then if satisfied, authorize a subordinate officer to take possession of the assets and documents and forwards them to the secured creditor as under clause (ii) above. The Hon ble Supreme Court thereafter noticed Mardia Chemicals (supra) and held in paragraph 37:- In this connection, it is material to refer to the judgment in Mardia Chemicals where ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ts Recovery Tribunal only after such measures as provided in sub-section (4) of Section 13 are taken and Section 34 bars to entertain any proceeding in respect of a matter which the Debts Recovery Tribunal or the Appellate Tribunal is empowered to determine. Thus before any action or measure is taken under Sub- Section (4) of Section 13, it is submitted by Mr. Salve, one of the counsel for the Respondents that there would be no bar to approach the Civil Court. Therefore, it cannot be said that no remedy is available to the borrowers. We, however, find that this contention as advanced by Sri Salve is not correct. A full reading of Section 34 shows that the jurisdiction of the Civil Court is barred in respect of matters which a Debts Recovery ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... any of the measures referred to in sub-section (4) of Section 13 has got a statutory right of appeal to the DRT under Section 17. The opening portion of Section 34 clearly states that no Civil Court shall have jurisdiction to entertain any suit or proceeding in respect of any matter which a DRT or an Appellate Tribunal is empowered by or under the Securitisation act to determine. The expression in respect of any matter referred to in Section 34 would take in the measures provided under sub-section (4) of Section 13 of the Securitisation Act. Consequently, if any aggrieved person has got any grievance against any measures taken by the borrower under Sub-section (4) of Section 13, the remedy open to him is to approach the DRT or the A ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
