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2020 (2) TMI 1411 - HC - Indian LawsSeeking extension of iinterim stay of the proceedings on deposit of ₹ 50 lakhs - HELD THAT:- In AUTHORIZED OFFICER, STATE BANK OF TRAVANCORE AND ANOTHER VERSUS MATHEW K.C. [2018 (2) TMI 25 - SUPREME COURT], Hon'ble Apex Court stated that writ petition against proceedings initiated against SARFAESI Act, 2002 is not maintainable, in the light of the alternate remedy provided for under the statute. It is also made clear that "in financial matters grant of ex parte interim orders can have a deleterious effect and it is not sufficient to say that the aggrieved has the remedy to move for vacating the interim order." Following the decision in K.C. Mathew's case, we are not inclined to interfere with the interim order passed by the writ court. Accordingly, interim order and extension of the same are vacated. Writ appeal is allowed.
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