Case Law Analysis
|Bombay High Court
Judicial Comity Under SARFAESI Act | Auction Stayed When Court Receiver Holds Possession : Bombay HC
Bombay High Court rules that a secured asset auction under the SARFAESI Act cannot proceed when another court has already appointed a receiver with physical possession, prioritizing judicial comity over parallel recovery proceedings. The decision mandates deferment of auction until the Debts Recovery Appellate Tribunal addresses the jurisdictional conflict, impacting lenders and borrowers in multi-forum recovery disputes.