https://www.taxtmi.com/caselaws?id=111673 Security interest over tea estate, factory and allied assets was treated as falling within the SARFAESI Act, because the record did not show mortgage of agricultural land and the section 31(i) bar was therefore not attracted. The borrower's objection to the section 13(2) notice was considered to have been dealt with by the bank in a reasoned reply, consistent with the requirement recognised in Mardia Chemicals, and the existence of a parallel BPDR/Bakijai proceeding did not prevent recourse to SARFAESI after the bank elected to proceed under that special statute. At the notice stage under section 13(2), with no measure under section 13(4) taken and a statutory remedy available under section 17, writ intervention under Article 226 was regarded as premature. en-us Fri, 15 Sep 2006 00:00:00 +0530 Tue, 24 Apr 2012 16:42:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111673 Security interest over tea estate, factory and allied assets was treated as falling within the SARFAESI Act, because the record did not show mortgage of agricultural land and the section 31(i) bar was therefore not attracted. The borrower's objection to the section 13(2) notice was considered to have been dealt with by the bank in a reasoned reply, consistent with the requirement recognised in Mardia Chemicals, and the existence of a parallel BPDR/Bakijai proceeding did not prevent recourse to SARFAESI after the bank elected to proceed under that special statute. At the notice stage under section 13(2), with no measure under section 13(4) taken and a statutory remedy available under section 17, writ intervention under Article 226 was regarded as premature. Case-Laws Companies Law Fri, 15 Sep 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111673