https://www.taxtmi.com/caselaws?id=198717 A civil decree for recovery does not cease to be a "debt" or secured liability for purposes of SARFAESI, and the bank may still invoke measures under the 2002 Act after obtaining a preliminary decree. The classification of the account as a non-performing asset and the statutory definition of "default" supported recourse to Section 13(4), while Section 37 preserves SARFAESI as additional to other laws. The borrower also had an effective alternative remedy under Section 17, so the writ challenge to the possession and sale notices was not maintainable. en-us Mon, 14 Jul 2008 00:00:00 +0530 Wed, 07 Feb 2018 18:14:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=198717 A civil decree for recovery does not cease to be a "debt" or secured liability for purposes of SARFAESI, and the bank may still invoke measures under the 2002 Act after obtaining a preliminary decree. The classification of the account as a non-performing asset and the statutory definition of "default" supported recourse to Section 13(4), while Section 37 preserves SARFAESI as additional to other laws. The borrower also had an effective alternative remedy under Section 17, so the writ challenge to the possession and sale notices was not maintainable. Case-Laws Indian Laws Mon, 14 Jul 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=198717