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TMI Blog2020 (1) TMI 1333X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 - Admittedly, the suit schedule property is the subject-matter of the SARFAESI Act, and the bank filed an original application before the Debts Recovery Tribunal, Coimbatore, which is pending for adjudication. This being the admitted fact, this court is of an opinion that the express bar as contemplated under section 34 of the SARFAESI Act should be pressed into service and cons ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the guarantors, i. e., A. Mohan, M. Umadevi, A. Archana and Arunkumar. The guarantors have executed the guarantee agreement in favour of the Karnataka Bank Ltd. 3. It was contended that the suit schedule property was mortgaged and on account of the non-payment of loan amount, the bank invoked the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and the matter was pending before the Debts Recovery Tribunal, Coimbatore. When the issues relating to the suit property was the subject-matter of the SARFAESI Act and the Debts Recovery Tribunal seized of the issues, then under section 34 of the SARFAESI Act, no suit can be entertained by the civil court. On account of the ex ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ny 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 1993)". 7. Admittedly, the suit schedule property is the subject-matter of the SARFAESI Act, and the bank filed an original application before the Debts Recovery Tribunal, Coimbatore, which is pending for adjudication. This being the admitted fact, this court is of an opinion that the express bar as contemplated under section 34 of the SARFAESI Act should be pressed into service and consequently, the decision arrived by the trial court is in consonance with section 34 of the SARFAESI Act and with reference to section 9 of the Code of Civil Procedure. 8. When th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d creditor for not having accepted his representation or objection or the likely action of the secured creditor at the stage of communication of reasons to the borrower shall not entitle the person (including borrower) to make an application to the Debts Recovery Tribunal under this sub-section. (2) The Debts Recovery Tribunal shall consider whether any of the measures referred to in sub-section (4) of section 13 taken by the secured creditor for enforcement of security are in accordance with the provisions of this Act and the rules made thereunder. (3) If, the Debts Recovery Tribunal, after examining the facts and circumstances of the case and evidence produced by the parties, comes to the conclusion that any of the measures referred t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... od for reasons to be recorded in writing, so, however, that the total period of pendency of the application with the Debts Recovery Tribunal, shall not exceed four months from the date of making of such application made under sub-section (1). (6) If the application is not disposed of by the Debts Recovery Tribunal within the period of four months as specified in sub-section (5), any part to the application may make an application, in such form as may be prescribed, to the Appellate Tribunal for directing the Debts Recovery Tribunal for expeditious disposal of the application pending before the Debts Recovery Tribunal and the Appellate Tribunal may, on such application, make an order for expeditious disposal of the pending application by t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r 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 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 Shri 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 Tribunal or an Appellate Tribunal is empowered to determine in respect of any action taken "or to be taken in pursuance of any power confferred under this Act". Th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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