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2022 (5) TMI 1079 - HC - Indian LawsMaintainability of writ petition - availability of alternative remedy of appeal - Grant of benefit of Moratorium - Section 14 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 - HELD THAT:- In case of M/s Balaji Enterprises and other connected matters [2022 (2) TMI 1235 - RAJASTHAN HIGH COURT] involving identical controversy, a co-ordinate Bench of this Court has dismissed the writ petitions on account of availability of remedy to the petitioners under the SARFAESI Act - the issue of availability of an alternative statutory remedy is no more res integra and stands decided against the petitioner. In the backdrop of judgments of the Hon’ble Apex Court of India in the cases of M.D. Frozen Foods Exports Pvt. Ltd. [2017 (9) TMI 1266 - SUPREME COURT] and Indiabulls Housing Finance Limited [2018 (3) TMI 118 - SUPREME COURT], the contention of learned counsel for the petitioners that in view of availability of arbitration clause and invocation of Section 9 of the Act of 1996, the proceedings under the SARFAESI Act could not have been resorted to, does not merit acceptance. The writ petition is dismissed in view of availability of alternative remedy to the petitioners under the provisions of the SARFAESI Act.
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