https://www.taxtmi.com/caselaws?id=436852 A writ court will ordinarily decline interference in SARFAESI proceedings where the borrower has an efficacious statutory remedy and has been guilty of laches. The court noted that the petitioner had not completed the bank's restructuring steps under the RBI resolution framework, so no direction could issue to compel extension of that process. It also held that the pre-packaged insolvency resolution process was unavailable because it applies only to a corporate applicant, while the petitioner was a proprietorship firm. The writ petition was therefore held not maintainable, and no interference with the pending SARFAESI measures was warranted. en-us Mon, 10 Apr 2023 00:00:00 +0530 Sat, 22 Apr 2023 09:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436852 A writ court will ordinarily decline interference in SARFAESI proceedings where the borrower has an efficacious statutory remedy and has been guilty of laches. The court noted that the petitioner had not completed the bank's restructuring steps under the RBI resolution framework, so no direction could issue to compel extension of that process. It also held that the pre-packaged insolvency resolution process was unavailable because it applies only to a corporate applicant, while the petitioner was a proprietorship firm. The writ petition was therefore held not maintainable, and no interference with the pending SARFAESI measures was warranted. Case-Laws Insolvency and Bankruptcy Mon, 10 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436852