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2016 (2) TMI 756 - HC - Indian LawsWrit jurisdiction to entertain the present petition - proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 - Held that:- There is a clinching reason for not entertaining the petition and relegating the petitioner before the Debts Recovery Tribunal. It is an admitted position that principal borrower has already approached the Debts Recovery Tribunal by filing the aforesaid S.A. No.122 of 2015 under Section 17 of the Act. The same is pending and the Tribunal is seized with the said proceedings. Interim directions have been operating in that matter. It relates to the controversy and the subject matter. It would be entirely appropriate that the petitioner approaches the Tribunal to agitate his rights by filing appropriate application in the said proceedings. In any view, therefore, the petitioner has to get his rights agitated by approaching the Tribunal which is a statutory remedy available. In the aforesaid view, present petition is not entertained and dismissed, leaving the petitioner at liberty to approach the Debts Recovery Tribunal. It goes without saying that this Court has not gone into the merits of the case of the petitioner.
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