https://www.taxtmi.com/caselaws?id=304509 A writ court should not restrain recovery proceedings under the SARFAESI Act or compel implementation of a rehabilitation package unless the affected secured creditor has consented or its objections have been lawfully determined. Here, the SARFAESI proceedings were already pending before the statutory forum, and the secured creditor had not accepted the Apex Committee's rehabilitation plan. The High Court therefore held that interference with the statutory recovery process was unwarranted, quashed the directions enforcing the loan and corpus-fund package against the bank, and remanded the rehabilitation issue to the Apex Committee for fresh consideration after hearing all stakeholders. en-us Thu, 23 Nov 2017 00:00:00 +0530 Thu, 29 Sep 2022 23:16:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304509 A writ court should not restrain recovery proceedings under the SARFAESI Act or compel implementation of a rehabilitation package unless the affected secured creditor has consented or its objections have been lawfully determined. Here, the SARFAESI proceedings were already pending before the statutory forum, and the secured creditor had not accepted the Apex Committee's rehabilitation plan. The High Court therefore held that interference with the statutory recovery process was unwarranted, quashed the directions enforcing the loan and corpus-fund package against the bank, and remanded the rehabilitation issue to the Apex Committee for fresh consideration after hearing all stakeholders. Case-Laws Indian Laws Thu, 23 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304509