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No writ petition maintainable in cases where remedy lies under SARFAESI Act

  • Publication Name: Lexology
  • Publication Name Index: Lexology

The Supreme Court of India has clarified that borrowers aggrieved by proceedings initiated by banks or asset reconstruction companies (ARCs) under the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act 2002 (the SARFAESI Act) have to avail remedy under the same law and a writ petition will not be maintainable.