TMI Blog2015 (6) TMI 218X X X X Extracts X X X X X X X X Extracts X X X X ..... ditor are not in accordance with the provisions of the Act or the Rules made thereunder, it can declare the recourse to any one or more measures referred to in sub-section (4) of Section 13 taken by the secured creditor as invalid and restore the possession of the secured asset to the borrower. Moreover, as stated by counsel appearing on behalf of the respondent-AARCL at the bar, the petitioner has already availed the remedy available under Section 17 of the Act before the Tribunal. - Present matter does not suggest any special feature warranting interference by this court in exercise of its extra ordinary jurisdiction under Article 226 of the Constitution of India, by passing the effective and efficacious statutory remedy available under t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r, during the pendency of the original application before the Tribunal, for recovery of the outstanding dues, the respondent-AARCL started parallel proceedings under Section 13 of the Act. 3. After issuing the notice under Section 13(2) 13(4) of the Act, the respondent-AARCL made an application under Section 14 of the Act before the District Magistrate, Jaisalmer for taking over the possession of the secured asset and forward such asset to the secured creditor and authorise the Tehsildar/Police Officials to break open the locks if the premises is found locked and prepare inventory of the goods lying in the said property, after taking possession thereof. Hence, this petition. 4. Learned counsel appearing for the petitioner submits th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f India Ors. , (2014) 5 SCC, 762. 6. I have considered the rival submissions and perused the material on record. 7. It is to be noticed that the order, if any, passed by the District Magistrate in the proceedings under Section 14 of the Act is not impugned in the present writ petition. Admittedly, the petitioner is aggrieved by the measures adopted by the respondent-AARCL for enforcement of the security interest in terms of sub-section (4) of Section 13 of the Act, during the pendency of the proceedings before the Tribunal in the original application filed on behalf of the respondents. It is not in dispute that remedy of appeal is available to the petitioner against the impugned action of the respondent-AARCL under Section 17 of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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