The expression “any person” used in Section 17(1) of the SARFAESI Act, 2002 is of wide implication and the same includes not only the borrower, but also the guarantor or any other person who may be affected by the action taken under Section 13(4) or Section 14 of the SARFAESI Act, 2002 – Patliputra Concrete Vs. The State of Jharkhand and Ors. – Jharkhand High Court
November 9, 2024
Hon’ble Jharkhand High Court held that it is evident from the judgment in United Bank of India Vs. Satyawati Tondon & Ors. (2017) ibclaw.in 81 SC that the expression “any person” used in Section 17(1) of the SARFAESI Act, 2002 is of wide implication and the same includes not only the borrower, but also the guarantor or any other person who may be affected by the action taken under Section 13(4) or Section 14 of the SARFAESI Act, 2002. Thus, the Debts Recovery Tribunal (DRT) or the Debts Recovery Appellate Tribunal (DRAT) are duly empowered to entertain the application/appeal filed under Section 17 and 18 of the SARFAESI Act, 2002 respectively including passing of the interim orders and to decide the dispute within a fixed period. It has thus been settled that the remedy under Section 17 of the SARFAESI Act, 2002 is available to any aggrieved person.
