Just a moment...
Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.
Press 'Enter' to add multiple search terms. Rules for Better Search
Use comma for multiple locations.
---------------- For section wise search only -----------------
Accuracy Level ~ 90%
Press 'Enter' after typing page number.
Press 'Enter' after typing page number.
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
Press 'Enter' after typing page number.
Press 'Enter' after typing page number.
Don't have an account? Register Here
Press 'Enter' after typing page number.
Issues: Whether the writ petition challenging possession taken under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 was maintainable in view of the statutory remedy under Section 17 of that Act.
Analysis: The challenge related to measures taken after issuance of notice under Section 13(4) and taking of possession. The Court held that such post-Section 13(4) action is covered by the statutory appellate remedy under Section 17. It noted that the petitioner could raise all factual and legal objections before the Tribunal, including objections regarding the notice, possession proceedings, and authority of the officer. In view of the settled principle that writ jurisdiction is ordinarily not to be invoked when an effective alternative remedy is available, the Court declined to entertain the petition.
Conclusion: The writ petition was not maintainable and was rejected in favour of the respondent bank, leaving the petitioner to pursue the remedy under Section 17 of the Act.