Content Provider | Supreme Court of India |
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e-ISSN | 30484839 |
Language | English |
Access Restriction | NDLI |
Subject Keyword | Securitisation and Reconstruction of Financial Assets and Enforcement of |
Content Type | Text |
Resource Type | Law Judgement |
Jurisdiction | India |
Case Type | Appeal |
Court | Supreme Court of India |
Disposal Nature | Appeal Allowed |
Headnote | Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 - ss. 13(4), 17 and 34 - Suit against proceedings initiated uls. 13(4) - lnvolving debt less C than Rs. 10 lakhs - Whether the suit is not maintainable in view of bar u!s. 34 or is it maintainable in view of s. 1 (4) of DRT Act which debars the jurisdiction of the Tribunal in respect of debts below Rs. JO lakhs - Held: The jurisdiction of civil court is barred in respect of action taken under the SARFAESl Act and the remedy available is before the Tribunal under DRT Act - As per s. I (4) of DRT Act, D provisions of DRT Act would not apply where the amount of debt is less than Rs. JO /akhs - But the aggrieved debtor cannot be left without any remedy - Therefore the provision uls. 1 (4) of DRT Act can be interpreted in such a manner which would not adversely affect legal remedy to a debtor - Bar uls. 1( 4) can be interpreted as E limited to the original jurisdiction of the Tribunal - Tribunal will have the jurisdiction to entertain the case in re~pect of proceedings under. the Act (where the amount involved is less than Rs. JO lakhs) in exercise of its appellate jurisdiction u/s. 17 - Recovery of Debts Due to Banks and Financial institutions Act, 1993 - s. 1 (4). |
Judge | Hon'ble Mr. Justice Anil R. Dave |
Neutral Citation | 2016 INSC 1007 |
Petitioner | State Bank Of Patiala |
Respondent | Mukesh Jain & Anr. |
SCR | [2016] 8 S.C.R. 427 |
Judgement Date | 2016-11-08 |
Case Number | 210 |
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