Case Law Analysis
|Allahabad High Court
Section 17 SARFAESI Act | Writ Petition Under Article 226 Barred When Statutory Remedy Exists : Allahabad HC
Allahabad High Court reinforces that borrowers cannot bypass the Debt Recovery Tribunal (DRT) under Section 17 of the SARFAESI Act by filing writ petitions under Article 226. The ruling clarifies that private financial institutions acting under the SARFAESI Act are not subject to writ jurisdiction when an efficacious alternative remedy is available, impacting recovery proceedings for banks and NBFCs.