https://www.taxtmi.com/caselaws?id=105984 Where the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 provides an efficacious statutory recovery and appellate mechanism, the High Court will not ordinarily exercise writ jurisdiction to bypass that remedy. The petitioners had overdrawn their cash credit limit, failed to regularise the account or furnish security, and sought to avoid recovery proceedings by arguing that the debt was not finally determined. The Court held there was no legal basis to interfere in aid of a debtor resisting repayment and the statutory deposit requirement, so the writ petition and letters patent appeal were not maintainable and the challenge failed. en-us Wed, 01 Mar 2000 00:00:00 +0530 Mon, 12 Mar 2012 12:17:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=105984 Where the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 provides an efficacious statutory recovery and appellate mechanism, the High Court will not ordinarily exercise writ jurisdiction to bypass that remedy. The petitioners had overdrawn their cash credit limit, failed to regularise the account or furnish security, and sought to avoid recovery proceedings by arguing that the debt was not finally determined. The Court held there was no legal basis to interfere in aid of a debtor resisting repayment and the statutory deposit requirement, so the writ petition and letters patent appeal were not maintainable and the challenge failed. Case-Laws Companies Law Wed, 01 Mar 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=105984