TMI Blog2001 (8) TMI 1240X X X X Extracts X X X X X X X X Extracts X X X X ..... unal directing sale of mortgaged property was appealable under section 20 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993. The High Court ought not to have exercised its jurisdiction under article 227 in view of the provision for alternative remedy contained in the Act. We do not propose to go into the correctness of the decision of the High Court and whether the order p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd it was further directed that the Recovery Officer shall first proceed to realise the amount on the sale of hypothecated plant and machinery and mortgaged property belonging to respondents 5 and 4, respectively, and thereafter proceed to realise the balance, if any, in accordance with law. Pursuant thereto, certificate was issued and recovery proceedings started. 3. The respondent who was a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ct, 1993 ( the Act ). The High Court ought not to have exercised its jurisdiction under article 227 in view of the provision for alternative remedy contained in the Act. We do not propose to go into the correctness of the decision of the High Court and whether the order passed by the Tribunal was correct or not has to be decided before an appropriate forum. 5. The Act has been enacted with a v ..... X X X X Extracts X X X X X X X X Extracts X X X X
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