Writ Petition Under Article 226 Challenging SARFAESI Proceedings Not Maintainable, Rules Supreme Court

The Supreme Court ruled that a writ petition challenging proceedings launched by private banks/Asset Reconstruction Companies under the SARFAESI Act is not maintainable. A bench of Justices MR Shah and BV Nagarathna said that If proceedings are initiated under the SARFAESI Act and/or any proposed action is to be taken, and the borrower is aggrieved

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