NDLI: Punjab and Sind Bank Vs. Frontline Corporation Ltd

Content Provider	Supreme Court of India
e-ISSN	30484839
Language	English
Access Restriction	NDLI
Subject Keyword	SARFAESI Act s. 34
Content Type	Text
Resource Type	Law Judgement
Jurisdiction	India
Case(s) Referred	Referred Case 0
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 – s. 34 – Respondent purchased the suit property wherein the appellant-bank was inducted as a tenant by the previous owner in the ground floor of the suit premises – Respondent availed various credit facilities from the appellant-bank to the tune of Rs. 42.74 crore by mortgaging, inter alia, the suit property as collateral – Thereafter, a purported settlement agreement, dated 29.11.2010, filed in the ejectment suit which was filed earlier by the previous owner, before the City Civil Court and a lease deed dated 11.02.2011 was executed between the parties – Financial defaults were committed by the respondent – Demand notice u/s. 13 of the SARFAESI Act was issued by appellant-bank – Demand remained unmet – Appellant declared that it had taken possession of the suit property – Respondent filed securitisation application before the DRT and instituted a suit before the High Court for specific performance of the settlement deed and lease deed – An injunction application was also filed restraining appellant from disposing any part of suit property – Interim order was passed by the Single Judge of the High Court that no final orders of sale be passed and this was extended from time to time – Thereafter, the Single Judge set aside the interim order noting therein that the appellant, being a secured creditor, could not be restrained from taking appropriate steps qua the secured suit property, especially in light of the express bar on the jurisdiction of the civil court, as provided u/s. 34 of the SARFAESI Act – Division Bench set aside the order of the Single Judge and observed that the bar u/s. 34 of the SARFAESI Act was not absolute and restrained the appellant from selling the suit property until the final determination of the rights of the parties – On appeal, held: It is settled that the jurisdiction of the civil court is barred in respect of matters which a DRT or an Appellate Tribunal is empowered to determine in respect of any action taken “or to be taken in pursuance of any power conferred under this Act” – Bar of civil court thus applies to all such matters which may be taken cognizance of by the DRT, apart from those matters in which measures have already been taken under sub-section (4) of s. 13 of the SARFAESI Act – Though a very limited extent jurisdiction of the civil court can also be invoked, where for example, the action of the secured creditor is alleged to be fraudulent or his claim may be so absurd and untenable which may not require any probe whatsoever – In the instant case, it cannot be said that the action of the secured creditor, i.e. the appellant is either fraudulent or that its claim is so absurd or untenable which may not require any probe whatsoever – Single Judge had passed the said order on the basis of a statutory bar – Division Bench has grossly erred in interfering with the discretion exercised by the Single Judge – Thus, the judgment and order passed by the Single Judge upheld.
Judge	Hon'ble Mr. Justice Bhushan Ramkrishna Gavai
Neutral Citation	2023 INSC 386
Petitioner	Punjab And Sind Bank
Respondent	Frontline Corporation Ltd
SCR	[2023] 4 S.C.R. 858
Judgement Date	2023-04-18
Case Number	2924

Sl.	Authority	Responsibilities	Communication Details
1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
5	Website/Portal (Helpdesk)	Queries regarding NDLI and its services	support@ndl.gov.in
6	Contents and Copyright Issues	Queries related to content curation and copyright issues	content@ndl.gov.in
7	National Digital Library of India Club (NDLI Club)	Queries related to NDLI Club formation, support, user awareness program, seminar/symposium, collaboration, social media, promotion, and outreach	clubsupport@ndl.gov.in
8	Digital Preservation Centre (DPC)	Assistance with digitizing and archiving copyright-free printed books	dpc@ndl.gov.in
9	IDR Setup or Support	Queries related to establishment and support of Institutional Digital Repository (IDR) and IDR workshops	idr@ndl.gov.in

Punjab and Sind Bank Vs. Frontline Corporation Ltd

Please Log-in to view this content

Fenner (india) Ltd. Vs. Punjab and Sind Bank

Punjab & Sind Bank Vs. Allahabad Bank and Anr.

Punjab and Sind Bank Vs. M/s. Allied Beverage Company Pvt. Ltd. and Ors.

Punjab and Sind Bank and Anr Vs. S. Ranveer Singh Ba Wa and Anr.

Punjab & Sind Bank Vs. Punjab Breeders Ltd. & Another

Rakesh Mehta and Others Vs. Punjab and Sind Bank

K. Sreedhar Vs. M/s Raus Constructions Pvt. Ltd & Ors.

Jasbir Singh Vs. Punjab & Sind Bank and Ors.

Punjab & Sind Bank Vs. The State of Punjab & Anr.

Punjab and Sind Bank Vs. Frontline Corporation Ltd

Punjab and Sind Bank Vs. Frontline Corporation Ltd

Please Log-in to view this content

Similar Documents

Fenner (india) Ltd. Vs. Punjab and Sind Bank

Punjab & Sind Bank Vs. Allahabad Bank and Anr.

Punjab and Sind Bank Vs. M/s. Allied Beverage Company Pvt. Ltd. and Ors.

Punjab and Sind Bank and Anr Vs. S. Ranveer Singh Ba Wa and Anr.

Punjab & Sind Bank Vs. Punjab Breeders Ltd. & Another

Rakesh Mehta and Others Vs. Punjab and Sind Bank

K. Sreedhar Vs. M/s Raus Constructions Pvt. Ltd & Ors.

Jasbir Singh Vs. Punjab & Sind Bank and Ors.

Punjab & Sind Bank Vs. The State of Punjab & Anr.

Punjab and Sind Bank Vs. Frontline Corporation Ltd