Court Penalizes Bank Rs. 5 Lakhs Per Appeal for Frivolous Litigation Under SARFAESI Act to Deter Future Misconduct.

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....Appeal of the Bank under the SARFAESI Act - The present case, is a classic example how the judicial system is getting clogged with frivolous litigation. The facts and the circumstances that have led to the filing of the present appeal, leave us with no choice but to impose exemplary costs on the appellant secured creditor. - This matter requires costs to be imposed upon the appellant-bank which we quantify at ₹ 5 lakhs per appeal. - HC....