Writ petition seeking quashing of the notices issued under Sections 13(2 as also 13(4) of the SARFAESI Act, 2002 is clearly not maintainable – M/s Dynamic Sales Vs. District Magistrate, Solan & Ors. – Himachal Pradesh High Court
Learned counsel for R2 has submitted that once proceedings under the SARFAESI Act have been initiated, then the party aggrieved has to avail of the remedy under SARFAESI Act itself and no writ petition would lie or be maintainable much less entertainable.
Hon’ble High Court referred judgment in M/s Kartik Food vs. State of H.P. & Anr. and M/s Neel Kanth Yarn vs. Punjab National Bank & Ors. and held that the instant petition seeking quashing of the notices issued under Sections 13(2 as also 13(4) of the SARFAESI Act, is clearly not maintainable, as the remedy, if any, of the petitioner, lies before the concerned Debt Recovery Tribunal.