(Order of the Court was made by S.M.SUBRAMANIAM, J.)
The relief sought for in the present writ petition is to direct the
second respondent Bank to refund the sale consideration amount of Rs.
10,00,000/- (Rupees Ten Lakhs only) paid towards the Tender-cum-Auction sale
dated 23.03.2011 and sale certificate registration charges, stamp duty and other
expenses totally Rs.12,00,000/- together with interest at 24% per annum from the
date of deposit until the date of realization.
2. Admittedly, the proceedings under the provisions of the
“Securitisation and Reconstruction of Financial Assets and Enforcement of
Security Interest Act, 2002” (hereinafter referred to as “SARFAESI Act”) has
been initiated and the recovery officer passed the orders. The proceedings under
the SARFAESI Act is susceptible to an appeal under the said Act and therefore,
https://www.mhc.tn.gov.in/judis ( Uploaded on: 30/07/2025 12:41:41 pm )
no Writ is maintainable in view of the judgment of the Hon’ble Supreme Court of
India in the case of Celir LLP Vs. Bafna Motors (Mumbai) Private Limited and
others reported in (2024) 2 SCC 1, wherein, the Hon’ble Supreme Court of India
held that the High Court was not justified in exercising the writ jurisdiction under
Article 226 of Constitution of India, since efficacious alternative remedy is
contemplated under the provisions of SARFAESI Act. Paragraph Nos.97, 98, 110
and 110.1, which are relevant in this context, stand extracted hereunder:
[ad_1]
Source link