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TMI Blog2016 (12) TMI 365X X X X Extracts X X X X X X X X Extracts X X X X ..... to the alternative remedy. Accordingly the petitioners cannot be allowed to invoke writ jurisdiction of this Court straightway. The petitioners are hereby relegated to approach the Tribunal to avail alternative remedy of Appeal. All the contentions which are raised in this petition may be raised in accordance with law while pursuing the alternative remedy. This Court has not gone into the merits of the case of the petitioners and this petition is not entertained on the aforesaid ground alone. - SPECIAL CIVIL APPLICATION NO. 20214 of 2016 - - - Dated:- 6-12-2016 - MR. N.V.ANJARIA, J. FOR THE PETITIONER : G H VIRK, ADVOCATE FOR THE RESPONDENT : MS NALINI S LODHA, CAVEATOR CAV ORDER Heard learned advocate Mr.G.H. Virk ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f recovery has reached the stage of Section 13(2) notice and thereafter under Section 13(4) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). It appears that the respondents have issued a notice for auctioning the secured assets in exercise of powers under Section 13(4) of the SARFAESI Act. 4. While various grounds are raised in the memorandum of petition and they were sought to be canvassed in course of hearing, they are not required to be dealt with in merit in view that the Court is not inclined to exercise the writ jurisdiction at this stage when the petitioners have got an alternative efficacious remedy of preferring Appeal under Section 17 of the SARFAESI Act ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pter III of the Act, in particular Sections 13 and 17, this Court held as under : 35. In order to prevent misuse of such wide powers and to prevent prejudice being caused to a borrower on account of an error on the part of the banks or financial institutions, certain checks and balances have been introduced in Section 17 which allow any person, including the borrower, aggrieved by any of the measures referred to in sub-section (4) of Section 13 taken by the secured creditor, to make an application to the DRT having jurisdiction in the matter within 45 days from the date of such measures having taken for the reliefs indicated in sub- section (3) thereof. 36. The intention of the legislature is, therefore, clear that while the banks an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rred to in sub-section (4) of section 13 taken by the secured creditor or his authorised officer under this Chapter, [may take an application along with such fee, as may be prescribed] to the Debts Recovery Tribunal having jurisdiction in the matter within forty-five days from the date on which such measures had been taken. 6.1 The aforesaid remedy is available to any person who is aggrieved by any of the measures taken under the SARFAESI Act, 2002 as contemplated under the Section. This provision has been further amended enlarging the adjudicatory area of the Tribunal, by virtue of Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Act, 2016. The petitioners herein are aggrieved and cou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h is entirely on a different plane of facts where the question of holding regular inquiry against an employee for causing loss to the Corporation and imposition of penalty was considered. 8. In the present case, as noted above, a clear remedy of Appeal is available under Section 17 of the Act. The dispute between the parties fall in the commercial realm where the dispute of such nature, namely commercial, are to be agitated, rule of alternative remedy has to be adhered to steadfast. As the alternative forum would be expert body equipped and competent to dealt with the factual aspects and investigate into the matters into the special realm. Therefore, it is trite that the petitioners are relegated to the alternative remedy. 9. In Unite ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... institutions to recover their dues. It is hoped and trusted that in future the High Courts will exercise their discretion in such matters with greater caution, care and circumspection. 10. Accordingly the petitioners cannot be allowed to invoke writ jurisdiction of this Court straightway. The petitioners are hereby relegated to approach the Tribunal to avail alternative remedy of Appeal. All the contentions which are raised in this petition may be raised in accordance with law while pursuing the alternative remedy. This Court has not gone into the merits of the case of the petitioners and this petition is not entertained on the aforesaid ground alone. 10.1 In order to enable the petitioners to approach the Tribunal by filing an Appea ..... X X X X Extracts X X X X X X X X Extracts X X X X
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