Arrun Kumar Sharma And Others v. Punjab National Bank And Another

I N THE HI GH COURT OF PUNJAB AND HARYANA AT CHANDI GARH CWP- 4874- 2016 Dat e of deci si on: - 15. 03. 2016 Ar r un Kumar Shar ma and ot her s . . . Pet i t i oner s Ver sus Punj ab Nat i onal Bank and anot her . . . Respondent s CORAM: HON' BLE MR. JUSTI CE S. J. VAZI FDAR, ACTI NG CHI EF JUSTI CE HON' BLE MR. JUSTI CE ARUN PALLI Pr esent : - Mr . Saj al Koser , Advocat e, f or t he pet i t i oner s.

* * * * S. J. VAZI FDAR, A. C. J. ( ORAL) The pet i t i oner s have chal l enged t he act i on t aken by r espondent No.

- bank under t he Secur i t i zat i on and Reconst r uct i on of Fi nanci al Asset s and Enf or cement of Secur i t y I nt er est Act , 2002 ( i n shor t t he SARFAESI Act ) . 2.

Ther e ar e f ar t oo many i ssues i ncl udi ng of f act whi ch woul d r equi r e consi der at i on.

Act i on has been t aken agai nst t he pet i t i oner s by sever al ot her aut hor i t i es as wel l . 3.

Ther e i s no war r ant f or i nt er f er i ng i n our ext r aor di nar y j ur i sdi ct i on under Ar t i cl e 226 of t he Const i t ut i on of I ndi a when t he pet i t i oner s have an al t er nat e r emedy under t he SARFAESI Act i t sel f .

4.

The pet i t i on i s accor di ngl y di smi ssed. ( S. J. VAZI FDAR) ACTI NG CHI EF JUSTI CE ( ARUN PALLI ) JUDGE

15. 03. 2016 Amodh AMODH SHARMA 2016.03.15 14:28 I attest to the accuracy and authenticity of this document chandigarh