https://www.taxtmi.com/caselaws?id=306672 The SARFAESI Act bars civil suits against measures taken under Section 13 where an effective statutory remedy lies under Section 17. A mere allegation of fraud does not lift the Section 34 bar unless the plaint clearly discloses a narrowly exceptional case beyond Tribunal competence, consistent with the limited exception in Mardia Chemicals. Read as a whole, the pleadings here raised a defence that could be examined by the DRT, including the alleged misuse of blank letterheads to transfer funds. The aggrieved parties were required to pursue the statutory remedy before the Tribunal, and the civil action was not maintainable. en-us Fri, 29 May 2015 00:00:00 +0530 Sat, 18 Feb 2023 06:44:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306672 The SARFAESI Act bars civil suits against measures taken under Section 13 where an effective statutory remedy lies under Section 17. A mere allegation of fraud does not lift the Section 34 bar unless the plaint clearly discloses a narrowly exceptional case beyond Tribunal competence, consistent with the limited exception in Mardia Chemicals. Read as a whole, the pleadings here raised a defence that could be examined by the DRT, including the alleged misuse of blank letterheads to transfer funds. The aggrieved parties were required to pursue the statutory remedy before the Tribunal, and the civil action was not maintainable. Case-Laws Indian Laws Fri, 29 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306672