2011 (2) TMI 1277 - SUPREME COURT

Enforcement of security interest - Respondent No. 3, viz. the State Bank of India had advanced a loan - On default of re-payment of loan amount, respondent No. 3 issued a notice under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest - High Court by impugned order dismissed said writ petition on ground that an alternative remedy was available to appellant under section 17 – Held that:- efficacious statutory remedy of appeal under section 17 of the Act was available to the appellants, who ultimately availed of the same. Therefore, having regard to the facts obtaining in the case, the High Court was fully justified in declining to exercise its jurisdiction under Articles 226 and 227 of the Constitution. appeals, being devoid of any merit, are dismissed