https://www.taxtmi.com/caselaws?id=255121 An application under section 17(1) of the SARFAESI Act is territorially linked to the secured asset and must be filed before the Debts Recovery Tribunal within whose jurisdiction the asset is situated. The remedy under section 17(1) is directed against measures taken under section 13(4), and the relief under section 17(3) concerns restoration of possession or management of that asset. Jurisdiction under section 19(1) of the 1993 Act, which governs bank recovery proceedings, cannot be treated as equivalent. Sections 14 and 17A further support the asset-based territorial link, because effective adjudication and implementation depend on the tribunal's control over the place where the secured asset lies. en-us Thu, 13 Sep 2012 00:00:00 +0530 Wed, 07 Jan 2015 18:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255121 An application under section 17(1) of the SARFAESI Act is territorially linked to the secured asset and must be filed before the Debts Recovery Tribunal within whose jurisdiction the asset is situated. The remedy under section 17(1) is directed against measures taken under section 13(4), and the relief under section 17(3) concerns restoration of possession or management of that asset. Jurisdiction under section 19(1) of the 1993 Act, which governs bank recovery proceedings, cannot be treated as equivalent. Sections 14 and 17A further support the asset-based territorial link, because effective adjudication and implementation depend on the tribunal's control over the place where the secured asset lies. Case-Laws Companies Law Thu, 13 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255121