https://www.taxtmi.com/caselaws?id=458282 A writ petition was held maintainable against a private bank where the challenge concerned enforcement of a binding statutory duty under an RBI framework, because the section 17 SARFAESI remedy arises only after section 13(4) measures and not at the section 13(2) notice stage. The bank was also required to consider the borrower's timely restructuring and ECLGS requests under Resolution Framework 2.0 before taking coercive steps. As the account was a standard asset when the request was made and the refusal was found unreasonable, the notice was quashed and the bank was directed to reconsider the requests afresh. en-us Thu, 19 Jan 2023 00:00:00 +0530 Fri, 18 Oct 2024 19:52:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458282 A writ petition was held maintainable against a private bank where the challenge concerned enforcement of a binding statutory duty under an RBI framework, because the section 17 SARFAESI remedy arises only after section 13(4) measures and not at the section 13(2) notice stage. The bank was also required to consider the borrower's timely restructuring and ECLGS requests under Resolution Framework 2.0 before taking coercive steps. As the account was a standard asset when the request was made and the refusal was found unreasonable, the notice was quashed and the bank was directed to reconsider the requests afresh. Case-Laws Indian Laws Thu, 19 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458282