SUPREME COURT OF INDIA: SARFAESI Act - Writ petition against private financial institution under Article 226 of Constitution of India against proposed action/actions under Section 13(4) of SARFAESI Act not maintainable.
SUPREME COURT OF INDIA Before:- M.R. Shah and B.V. Nagarathna, JJ. Civil Appeal Nos.257-259 of 2022. D/d. 12.1.2022. Phoenix ARC Private Limited - Appellants Versus Vishwa Bharati Vidya Mandir & Ors. - Respondents For the Appellants :- Mr. Suresh Dutt Dobhal, Mr. Shikhar Kumar, Advocates. For the Respondents :- Mr. Basavaprabhu S.Patil, Sr. Adv., Mr. Geet Ahuja, Mr. V. N. Raghupathy, Advocates. IMPORTANT SARFESI Act - Writ petition against private financial institution under Article 226 of Constitution of India against proposed action/actions under Section 13(4) of SARFAESI Act not maintainable. A. Constitution of India, 1950, Article 226 - Securitization and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002, Sections 17 and 13(4) - Writ petition against communication and to pass ex-parte ad interim order virtually stalling/restricting proceedings under SARFAESI Act by creditor - Maintainability - Held, writ petitions against notice under Section...