https://www.taxtmi.com/caselaws?id=111486 A secured creditor need not withdraw a pending DRT recovery application before invoking SARFAESI remedies; the two proceedings may run independently, and prior withdrawal is not a condition precedent. A possession notice issued under section 13(4) before communication of reasons under section 13(3A) does not automatically invalidate enforcement, because section 13(3A) is intended to ensure transparency and fair play. Where the borrower shows no prejudice and there is substantial compliance with the statute, the procedural sequence is treated as at most an irregularity. The bank's SARFAESI measures were upheld, while the borrower remained free to pursue the DRT remedy. en-us Thu, 01 Feb 2007 00:00:00 +0530 Mon, 23 Apr 2012 16:58:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111486 A secured creditor need not withdraw a pending DRT recovery application before invoking SARFAESI remedies; the two proceedings may run independently, and prior withdrawal is not a condition precedent. A possession notice issued under section 13(4) before communication of reasons under section 13(3A) does not automatically invalidate enforcement, because section 13(3A) is intended to ensure transparency and fair play. Where the borrower shows no prejudice and there is substantial compliance with the statute, the procedural sequence is treated as at most an irregularity. The bank's SARFAESI measures were upheld, while the borrower remained free to pursue the DRT remedy. Case-Laws Companies Law Thu, 01 Feb 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111486