https://www.taxtmi.com/caselaws?id=401950 RBI COVID-19 circulars and policy guidelines were treated as temporary relief measures for viable borrowers affected by the pandemic, not as a basis to reopen pre-existing defaults or completed enforcement steps under SARFAESI. Where default had begun before the pandemic, the account had already become an NPA, and secured creditor action including DRT proceedings had progressed, the one-time settlement could not be invalidated merely because payment conditions were not met. Writ relief was also considered unavailable where statutory remedies under the SARFAESI framework had already been invoked, since interference is ordinarily not warranted in contractual and enforcement disputes with an efficacious alternative remedy. en-us Fri, 18 Dec 2020 00:00:00 +0530 Wed, 03 Mar 2021 11:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401950 RBI COVID-19 circulars and policy guidelines were treated as temporary relief measures for viable borrowers affected by the pandemic, not as a basis to reopen pre-existing defaults or completed enforcement steps under SARFAESI. Where default had begun before the pandemic, the account had already become an NPA, and secured creditor action including DRT proceedings had progressed, the one-time settlement could not be invalidated merely because payment conditions were not met. Writ relief was also considered unavailable where statutory remedies under the SARFAESI framework had already been invoked, since interference is ordinarily not warranted in contractual and enforcement disputes with an efficacious alternative remedy. Case-Laws Indian Laws Fri, 18 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401950