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2015 (6) TMI 218 - RAJASTHAN HIGH COURTLegality of the proceedings initiated under Section 14 of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 - petitioner is aggrieved by the measures adopted by the respondent-AARCL for enforcement of the security interest in terms of sub-section (4) of Section 13 of the Act - Held that:- As per provisions of sub-section (3) of Section 17, if the Tribunal after examining the facts and circumstances of the case and the evidence produced by the parties, comes to the conclusion that any measures referred to in sub-section (4) of Section 13 by the secured creditor are not in accordance with the provisions of the Act or the Rules made thereunder, it can declare the recourse to any one or more measures referred to in sub-section (4) of Section 13 taken by the secured creditor as invalid and restore the possession of the secured asset to the borrower. Moreover, as stated by counsel appearing on behalf of the respondent-AARCL at the bar, the petitioner has already availed the remedy available under Section 17 of the Act before the Tribunal. - Present matter does not suggest any special feature warranting interference by this court in exercise of its extra ordinary jurisdiction under Article 226 of the Constitution of India, by passing the effective and efficacious statutory remedy available under the relevant statute. - Decided against appellant.
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