Home Case Index All Cases Indian Laws Indian Laws + HC Indian Laws - 2016 (12) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (12) TMI 1147 - HC - Indian LawsRecovery of amounts due under the SARFAESI Act - Failure to repay bank loan - bank initiated arbitration proceedings - Held that:- Mere pendency of the arbitration proceedings would not disentitle the said respondents from recovering the amounts due under the SARFAESI Act. As regards the observations expressed by the Co- Operative Tribunal, the petitioners still have an opportunity of raising all the pleas legally available to them, including the aspect on which the Tribunal has made its observations, by availing the remedy under Section-17 of the SARFAESI Act against the measures initiated by respondent Nos.1 and 4 before the Debts Recovery Tribunal.Subject to the liberty given to the petitioners as above, the Writ Petition is dismissed.
|