https://www.taxtmi.com/caselaws?id=296472 The enforcement remedy under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 cannot revive a mortgage claim that is already time-barred under the Limitation Act, 1963. Section 36 requires the underlying financial claim to be made within the limitation period, and the Act operates only as an additional mode of enforcing an existing security interest. Where the right to enforce the mortgage has expired and no subsisting mortgage remedy remains, recourse to the statutory mechanism is barred. On that basis, the enforcement notice was unsustainable and the impugned notices were quashed. en-us Fri, 20 Apr 2012 00:00:00 +0530 Thu, 22 Jul 2021 13:08:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296472 The enforcement remedy under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 cannot revive a mortgage claim that is already time-barred under the Limitation Act, 1963. Section 36 requires the underlying financial claim to be made within the limitation period, and the Act operates only as an additional mode of enforcing an existing security interest. Where the right to enforce the mortgage has expired and no subsisting mortgage remedy remains, recourse to the statutory mechanism is barred. On that basis, the enforcement notice was unsustainable and the impugned notices were quashed. Case-Laws Indian Laws Fri, 20 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296472