https://www.taxtmi.com/caselaws?id=458334 Delhi HC held that CMM has no requirement to fix time limits for taking possession of secured assets under Section 14 of SARFAESI Act, as this contradicts the Act's objective of expeditious asset recovery. The court set aside the CMM's ninety-day time limit order. Additionally, HC ruled that civil court orders in third-party suits cannot bind secured creditors who were not parties to such suits. Under Section 34 of SARFAESI Act, civil courts lack jurisdiction over secured creditor rights, which can only be challenged before DRT under Section 17. The impugned orders were set aside and appeal allowed. en-us Thu, 09 Dec 2021 00:00:00 +0530 Tue, 22 Oct 2024 20:29:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458334 Delhi HC held that CMM has no requirement to fix time limits for taking possession of secured assets under Section 14 of SARFAESI Act, as this contradicts the Act's objective of expeditious asset recovery. The court set aside the CMM's ninety-day time limit order. Additionally, HC ruled that civil court orders in third-party suits cannot bind secured creditors who were not parties to such suits. Under Section 34 of SARFAESI Act, civil courts lack jurisdiction over secured creditor rights, which can only be challenged before DRT under Section 17. The impugned orders were set aside and appeal allowed. Case-Laws Indian Laws Thu, 09 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458334