TMI Blog2015 (1) TMI 1484X X X X Extracts X X X X X X X X Extracts X X X X ..... d 18 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002? HELD THAT:- Even though Shri Shekhar Sharma, learned counsel for the petitioner has tried to emphasize that the remedy available under section 17 and 18 of the Act of 2002 is not a efficacious remedy, but we are of the considered view that as the action taken in the matter is nothi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Shri Shekhar Sharma, learned counsel For the respondent:-Shri Atul Choudhary, learned counsel. ORDER Challenging communication dated 27-07-2012 passed by the respondent/Bank cancelling certain proceedings initiated for sale of the property in question through a private treaty entered into under Rule 8 of Security Interest (Enforcement) Rules, 2002, the petitioner has filed this pet ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ules 2002 and certain proceedings took place. However, on account of certain dispute again arose in the matter after a demand for payment of tax by the Commercial Tax Department was made. On the allegation that the petitioner is not complying with the agreement entered into, the Bank by the impugned communication dated 27-07-2012 has cancelled the memorandum of the understanding entered into under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l to the Appellate Tribunal under section 18 , all the disputes between the parties arising out of these proceedings have to be agitated and resolved in these statutory proceedings and it is not appropriate for this court to exercise its extraordinary jurisdiction in these proceedings under Article 226 of the Constitution of India to interfere when a statutory Tribunal has jurisdiction to deal wit ..... X X X X Extracts X X X X X X X X Extracts X X X X
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