https://www.taxtmi.com/caselaws?id=111559 A section 13(2) SARFAESI notice is only a demand-cum-show-cause notice, so writ interference is generally premature where the borrower can raise objections and pursue the statutory remedy under section 17 after rejection. The pending rehabilitation process under SICA does not bar secured creditors from proceeding under SARFAESI when the draft scheme has not been sanctioned by BIFR. The abatement rule in section 15(1) of SICA, read with the overriding effect of section 35 of SARFAESI, supports creditor action once the statutory threshold is met. Mere consent to a draft scheme does not suspend the right to enforce security before sanction. en-us Fri, 31 Mar 2006 00:00:00 +0530 Tue, 24 Apr 2012 10:59:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111559 A section 13(2) SARFAESI notice is only a demand-cum-show-cause notice, so writ interference is generally premature where the borrower can raise objections and pursue the statutory remedy under section 17 after rejection. The pending rehabilitation process under SICA does not bar secured creditors from proceeding under SARFAESI when the draft scheme has not been sanctioned by BIFR. The abatement rule in section 15(1) of SICA, read with the overriding effect of section 35 of SARFAESI, supports creditor action once the statutory threshold is met. Mere consent to a draft scheme does not suspend the right to enforce security before sanction. Case-Laws Companies Law Fri, 31 Mar 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111559