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2017 (3) TMI 1339 - HC - Indian LawsWhether the guarantor/ mortgagor could be proceeded against under Section 13 for recovery of the secured debt? - Held that:- The Court finds that when the stand taken by respondent No.1 is that advancing financial assistance of ₹ 10 crore to the borrower was not independent loan given to the borrower but was part of the restructured loan which was made for restructuring of dues/ financial assistance, it is a stand taken contrary to the stand taken by the petitioner and gives rise to a dispute which could be resolved only on considering or appreciating the evidence including documentary evidence and this Court under Article 226 of the Constitution of India may not go into disputed questions of fact. Since statutory remedy of appeal is available to all the petitioners under Section 17 of the Act against the actions impugned in the petitions, the petitions are not entertained and are rejected, leaving it open to the petitioners to avail of alternative remedy before appropriate forum. Rule discharged. At this stage, learned advocates appearing for the petitioners request to continue the interim relief for a period of four weeks to enable them to approach the higher forum. Such request is opposed by learned advocates appearing for the respondents. The Court however finds that since the interim relief has remained in operation till these matters are finally decided, no prejudice would be caused to the respondents if interim relief is extended for a period of three weeks from today. Hence, it is directed that no coercive steps shall be taken against the petitioners in connection with their secured assets for a period of THREE WEEKS from today to enable them to approach the higher forum.
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