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Thursday 8 November 2012

Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002,

File Number = 28727
KARNATAKA HIGH COURT
Civil Procedure Code, 1908, Section 9, Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Section 34,17 -- Bar of jurisdiction - Proceedings initiated u/s 13 of the Act for recovery of secured debt - Suit for injunction filed by tenant - Held words 'any person' found in S.17 of the Act means not only a borrower, but a non-borrower also who is aggrieved by action of bank - Remedy of aggrieved person is to file appeal - Thus suit for injunction in Civil Court not maintainable.

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