TaxTMI 
TaxTMI 
2023 (7) TMI 1479
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.... the SARFAESI Act, 2002 (hereinafter referred to as 'SARFAESI Act'). 2. The case of the petitioners is that the respondents 2 to 4 had availed loan from the first respondent and they failed to repay back the same. The second petitioner stood as a guarantor to the said loan. The loan was categorised as NPA and the proceedings were initiated under the SARFAESI Act. 3. The first respondent filed an application in Crl.M.P.No.5693 of 2020 under Section 14 of the SARFAESI Act to take possession of the secured assets before the learned Chief Metropolitan Magistrate, Egmore, Chennai. This application came to be allowed by an order, dated 22.12.2021. 4. The second petitioner filed a memo before the learned Chief Metropolitan Magistrate, E....
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....ative remedy available to the petitioners under section 17 of the SARFAESI Act. It was further contended that the first respondent is a subsidiary company of Reliance Capital Limited and that it is a separate entity in the eye of law and the concept of business cluster, at the best can only extend up to the share that is held by the Reliance Capital Limited in the first respondent Company and no further. The learned Senior Counsel further submitted that the order that was passed by the learned Chief Metropolitan Magistrate, Egmore under Section 14 of the SARFAESI Act has become final and the said order has not been put to challenge. What has been put to challenge in this Criminal Original Petition is the subsequent order passed by the learn....
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....ection 482 of Cr.P.C. The power under Section 482 of Cr.P.C., is a recognition of the inherent power of the High Court to make such orders as may be necessary to give effect to any order under the code. The subsequent clauses namely to prevent abuse of process of any Court or to secure the ends of justice, must be necessarily read ejusdem generis to the main requirement which is to give effect to any order passed under the Code of Criminal Procedure. Hence the matter that is placed before the Court under section 482 of Cr.P.C., must be relatable to the Code of Criminal Procedure and the consequences falling out of it. 11. In the case in hand, the subject matter of the challenge before this Court is not even the order passed by the learned ....
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.... 13. The learned Senior Counsel appearing on behalf of the petitioners brought to the notice of this Court the latest order passed by the Hon'ble Apex Court in Phoenine ARC (P.) Ltd. v. Ganesh Murthy [Appeal (C) No(s).22093-22094 of 2022, dated 06.07.2023]. That was a case where this Court had entertained a petition under section 482 of Cr.P.C., wherein, an order passed under Section 14 of the SARFAESI Act was put to challenge. The Hon'ble Apex Court has categorically held that there is a remedy provided under SARFAESI Act and without availing that remedy, a petition under section 482 of Cr.P.C., can never be maintained. 14. The Hon'ble Apex Court in United Bank of India Vs. Satyawati Tondon Tondon and Ors. (2010) 8 SCC 110 an....