https://www.taxtmi.com/caselaws?id=111415 Pendency of an original application before the Debts Recovery Tribunal does not bar a bank from initiating securitisation measures under the SARFAESI Act. Withdrawal of the pending application is not a condition precedent for invoking that remedy, and the first proviso to Section 19(1) of the Recovery of Debts Due to Banks and Financial Institutions Act was treated as enabling rather than mandatory. The bank may decide whether to seek withdrawal in a given case, so recourse to securitisation remains available notwithstanding the pending tribunal proceedings. en-us Tue, 12 Dec 2006 00:00:00 +0530 Mon, 23 Apr 2012 14:39:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111415 Pendency of an original application before the Debts Recovery Tribunal does not bar a bank from initiating securitisation measures under the SARFAESI Act. Withdrawal of the pending application is not a condition precedent for invoking that remedy, and the first proviso to Section 19(1) of the Recovery of Debts Due to Banks and Financial Institutions Act was treated as enabling rather than mandatory. The bank may decide whether to seek withdrawal in a given case, so recourse to securitisation remains available notwithstanding the pending tribunal proceedings. Case-Laws Companies Law Tue, 12 Dec 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111415