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2016 (5) TMI 384 - HC - Indian LawsRecovery proceedings under the SARFAESI Act, 2002 - Held that:- Undisputebly, the action of the first respondent Bank under the SERFAESI Act, 2002, has travelled to the stage of section 13(4) or post 13(4) stage. The petitioners have got an alternative statutory remedy by way of preferring appeal before the Debt Recovery Tribunal under section 17 of the Act. The petitioners have to be relegated to the said alternative remedy, where all the contentions are kept open to be canvassed by the petitioners, as may be permissible in law. For the aforesaid position of law, this court is not inclined to entertain this petition so as to exercise writ jurisdiction. It is open to the petitioners to approach the Tribunal by way of appeal under Section 17 of the Act.
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