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2017 (1) TMI 825 - HC - Indian LawsValidity of action taken by the respondents under the Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) - action without authority in law - Held that:- The present petition is not accepted for its any of the prayers. The same is disposed of by observing that the respondent Bank may proceed to issue a fresh notice under Section 13(4) of the SARFAESI Act against the petitioner as it has withdrawn the earlier notice dated 08th September, 2016 as stated in the affiavitin- reply mentioned hereinabove. While permitting the respondent Bank to issue fresh notice as above, liberty is reserved for the petitioners to avail statutory alternative remedy of appeal before the Debt Recovery Tribunal challenging the action of the Bank on all available contentions including the above and those others raised in this petition.
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