2010 (6) TMI 855 - HC - Indian Laws

Summary

Issues involved: Impugning a notice u/s 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2003 (SARFAESI Act).

Summary:
The petitioner challenged a notice issued u/s 13(2) of the SARFAESI Act, seeking a declaration that the respondent had no right to claim any sum without issuing a prior notice. The petitioner argued for a fair opportunity to submit a reasonable offer before any assignment of debt. However, the court held that the petition cannot be entertained as it challenges a notice u/s 13(2) of the SARFAESI Act. The court emphasized that the petitioners can avail remedies u/s 13(3) and 13(3A) of the Act and raise all pleas during the process. The court dismissed the writ petition for lack of alternate and efficacious remedies under the Act, without any order as to costs.