2026 (8) TMI 848

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....CE JYOTI M For the Petitioner : Sri. Thejas N.S., Advocate For Sri. Lakshmikanth K., Advocate For the Respondents : Sri. S. Rajashekar, Senior PCGC For R2 ORAL ORDER : Sri. Thejas N.S., counsel on behalf of Sri. Lakshmikanth K., for the petitioner and Sri. S. Rajashekar., Senior panel CGC for respondent No.2 appeared in person. 2. This petition is filed seeking following reliefs: ....

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....9.05.2015 and Reserve Bank of India guidelines at Annexure-D, to evaluate and implement a comprehensive restructuring proposal for the petitioner firm; (d) Pass any such other writ, order or direction as this Hon'ble Court deems fit and proper in the fats and circumstances of the case, to meet the ends of justice and equity. 3. Counsel for the respective parties urged several conte....

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.... litigants are not remediless, as the Tribunal has been established specifically to adjudicate the lis. 6. The Apex Court in Phoenix Case's has held that filing of writ petition before the High Court under Article 226 of Constitution of India is an abuse of process of the Court. It is also observed that whenever a notice is issued under Section 13(2) and 13(4) of the SARFAESI Act, a litigan....

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....cing the right or liability, resort must be had to that particular statutory remedy before seeking the discretionary remedy under Article 226. The law is also well settled that a petition under Article 226 should not be entertained unless the statutory remedies are ill-suited to meet the demands of an extraordinary situation. Moreover, the Apex Court has also observed in the case of UNITE....