Home Case Index All Cases Indian Laws Indian Laws + SC Indian Laws - 2018 (6) TMI SC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (6) TMI 903 - SC - Indian LawsJurisdiction - appropriate forum to decide the issues concerning the mortgaged/secured property - Restrain the Bank from proceeding with the auction of the subject flat stood - Held that:- Section 34 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, clearly bars filing of a civil suit - For, no civil court can exercise jurisdiction to entertain any suit or proceeding in respect of any matter which a DRT or DRAT is empowered by or under this Act to determine and no injunction can be granted by any Court or authority in respect of any action taken or to be taken in pursuance of any power conferred by or under the Act. The respondent Nos.5 and 6 would, however, contend that crucial aspects have been glossed over by the DRT and DRAT including the effect of admitted position that respondent No.5 is in possession of the subject property and also having custody of the original share certificate and few receipts issued by the Society - it is appropriate to relegate the parties before the High Court by setting aside the impugned judgment and leaving all questions open, to be decided by the High Court on its own merits and in accordance with law. Appeal allowed by way of remand.
|