Branch Manager, State Bank of India & anr. V/S Suresh Ranjan Singh & ors. (CALCUTTA) 17/7/13 CJ-2013-1-482: Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 Sections 34, 13(4), 14, 17(1), 18-Code of Civil Procedure, 1908 Order 7 Rule 11(d)-Whether a civil suit lies when the secured creditor takes an action against the debtor under the provisions of the SARFAESI Act-According to Section 34 the Act, the civil court has no jurisdiction to entertain any suit or proceeding in respect of such a matter-Trial Judge rejected the application under Order 7 Rule 11(d) of the C.P.C. filed by the secured creditor-Under Section 13(4) of the said Act, the secured creditor is entitled to take possession of the property without any intervention of the Court-Section 34 of the Act of 2002 indicates that this Act has overriding effect over the other Acts or law of the land-The learned Trial Judge has failed to exercise the jurisdiction vested in him-The impugned order cannot be sustained-The application under Order 7 Rule 11(d) of the C.P.C. filed by the secured creditor stands allowed. For full text of the judgment and more latest judgments visit clickjudgements
Posted on: Thu, 18 Jul 2013 11:46:27 +0000
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