https://www.taxtmi.com/caselaws?id=771472 A dispute between secured creditors over competing claims to the same secured asset and priority of charge falls within Section 11 of the SARFAESI Act when it arises from the common borrower's non-payment. The provision applies even where the competing interests are described as pledge and hypothecation, because the real controversy concerns priority to the secured asset or sale proceeds. No separate written arbitration agreement is required, as Section 11 creates a statutory deeming fiction of consent to arbitration or conciliation. The provision is mandatory, so the prescribed mechanism cannot be bypassed and the DRT has no jurisdiction over such disputes. en-us Fri, 23 May 2025 00:00:00 +0530 Tue, 27 May 2025 08:32:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771472 A dispute between secured creditors over competing claims to the same secured asset and priority of charge falls within Section 11 of the SARFAESI Act when it arises from the common borrower's non-payment. The provision applies even where the competing interests are described as pledge and hypothecation, because the real controversy concerns priority to the secured asset or sale proceeds. No separate written arbitration agreement is required, as Section 11 creates a statutory deeming fiction of consent to arbitration or conciliation. The provision is mandatory, so the prescribed mechanism cannot be bypassed and the DRT has no jurisdiction over such disputes. Case-Laws Indian Laws Fri, 23 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771472