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2016 (5) TMI 384 - GUJARAT HIGH COURT

2016 (5) TMI 384 - GUJARAT HIGH COURT - TMI - Recovery proceedings under the SARFAESI Act, 2002 - Held that:- Undisputebly, the action of the first respondent Bank under the SERFAESI Act, 2002, has travelled to the stage of section 13(4) or post 13(4) stage. The petitioners have got an alternative statutory remedy by way of preferring appeal before the Debt Recovery Tribunal under section 17 of the Act. The petitioners have to be relegated to the said alternative remedy, where all the contention .....

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DIVYANGNA JHALA, AGP, MR PRANAV G DESAI, ADVOCATE Heard learned advocate Mr. D. P. Kinariwala for the petitioners, Learned Assistant Government Pleader Ms. Divyangna Jhala for respondent No.1 and learned advocate Mr. Pranav G. Desai for respondent No.2. 2. The challenge in the present petition is directed against order dated 18th June, 2015, passed by the Mamlatdar & Executive Magistrate, which is the order for taking possession of the property in question, pursuant to order of the District .....

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set by the Bank as the defaults occurred in repayment. That led the second respondent Bank to start recovery proceedings under the SARFAESI Act, 2002. Notice under section 13(2) of the Act was issued on 27th May, 2013 for amount then due as on 25th March, 2013 of ₹ 91,63,964/- with interest running. 3.1 It is not in dispute that the second respondent has already taken symbolic possession on 4th June, 2013 of the mortgaged property being Bungalow at Survey No. 28/3+4, Town Planing Scheme 15 .....

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Article, 226 of the Constitution. 4. Learned advocate for the petitioners pressed the prayer for setting aside the impugned order. 5. Undisputebly, the action of the first respondent Bank under the SERFAESI Act, 2002, has travelled to the stage of section 13(4) or post 13(4) stage. The petitioners have got an alternative statutory remedy by way of preferring appeal before the Debt Recovery Tribunal under section 17 of the Act. The petitioners have to be relegated to the said alternative remedy, .....

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f taxes, cess, fees, other types of public money and the dues of banks and other financial institutions. In our view, while dealing with the petitions involving challenge to the action taken for recovery of the public dues, etc., the High Court must keep in mind that the legislations enacted by Parliament and State Legislatures for recovery of such dues are code unto themselves inasmuch as they not only contain comprehensive procedure for recovery of the dues but also envisage constitution of qu .....

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