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2016 (12) TMI 1201 - HC - Indian LawsExercise of the power conferred by Section 14 of SARFAESI Act - sale the land - Held that:- When the status of the party being a borrower and the property being a secured asset is questioned, this Court is of the opinion that the bar under Section 34 of the SARFAESI Act would not apply at all. A third party to a loan transaction who is actually in possession would be left with no remedy if the jurisdiction of the civil Court is held to be barred and no separate remedy is provided to him under the SARFAESI Act, as Section 17 thereof cannot be invoked by him. As the petitioner was protected by the interim order granted by this Court and the sale held by the 1st respondent company has not been confirmed pursuant thereto, the petitioner shall continue to have the benefit of the said interim order for a period of six weeks from today. In the meanwhile, it would be open to him to seek appropriate interim relief from the civil Court. We make it clear that we have not ventured into the merits of the matter and all issues are left open for adjudication by the civil Court. Subject to the above, the writ petition is dismissed leaving it open to the petitioner to approach the competent civil Court.
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