https://www.taxtmi.com/caselaws?id=273874 A writ petition should not be entertained where the SARFAESI Act provides an effective statutory remedy. After the secured account was classified as a non-performing asset, measures were initiated under Sections 13(2) and 13(4), and the borrower also failed to comply with the one-time settlement terms. In that setting, Section 17 furnished the proper remedy against the secured creditor's measures, so the High Court ought not to have bypassed the statutory framework or directed instalment payments in writ jurisdiction. The High Court's order was therefore unsustainable. en-us Mon, 02 Mar 2009 00:00:00 +0530 Wed, 18 Jul 2018 11:06:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273874 A writ petition should not be entertained where the SARFAESI Act provides an effective statutory remedy. After the secured account was classified as a non-performing asset, measures were initiated under Sections 13(2) and 13(4), and the borrower also failed to comply with the one-time settlement terms. In that setting, Section 17 furnished the proper remedy against the secured creditor's measures, so the High Court ought not to have bypassed the statutory framework or directed instalment payments in writ jurisdiction. The High Court's order was therefore unsustainable. Case-Laws Indian Laws Mon, 02 Mar 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273874