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2016 (2) TMI 528 - HC - Indian LawsAvailability of alternative remedy - Recovery proceedings against the guarantors initiated by the bank for defaulters of loan - principal borrower company failed to pay even principal amount - Held that:- We are not impressed with the arguments canvassed by learned Senior Counsel for the petitioners that powers under Article 226 of the Constitution of India be exercised as there is bar under Section 22 of the SICA, 1985 and the Tribunal has no jurisdiction or the Tribunal lacks jurisdiction to entertain application filed under Section 19 of the RDDB Act, 1993, for the reason that the very issue and the grounds can be raised before the appellate Tribunal, which has jurisdiction, power and discretion to entertain and consider such grounds on merit.
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