https://www.taxtmi.com/caselaws?id=457521 A civil suit could not be used to stall SARFAESI enforcement where the plaintiffs failed to plead or prove a prima facie case of fraud or collusion with particulars. The record showed a memorandum of understanding entered into after notice under Section 13(2) and without the secured creditor's prior written consent, contrary to Section 13(13); the bank was not shown to have known of it. The court treated the allegations as vague, held that the bank's measures were taken in accordance with the Act and Rules, and noted that any grievance over the auction or the memorandum was, at most, a damages claim against private parties. The plaintiffs had also invoked Section 17 before the DRT. en-us Wed, 09 Mar 2022 00:00:00 +0530 Sun, 22 Sep 2024 07:19:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457521 A civil suit could not be used to stall SARFAESI enforcement where the plaintiffs failed to plead or prove a prima facie case of fraud or collusion with particulars. The record showed a memorandum of understanding entered into after notice under Section 13(2) and without the secured creditor's prior written consent, contrary to Section 13(13); the bank was not shown to have known of it. The court treated the allegations as vague, held that the bank's measures were taken in accordance with the Act and Rules, and noted that any grievance over the auction or the memorandum was, at most, a damages claim against private parties. The plaintiffs had also invoked Section 17 before the DRT. Case-Laws Indian Laws Wed, 09 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457521