Tribunal can adjudicate and declare right of parties in respect of Secured Asset - Suit filed by Plaintiff is not maintainable which is expressly barred under Act

2014 (6) CTC 751

68

2014 (6) CTC 751 (Mad)

IN THE HIGH COURT OF MADRAS

G.M. Akbar All, J.

A. Nos. 4920 of 2011 & 1456 of 2012 in C.S. No. 634 of 2010.

April 28, 2014

Indian Bank, Asset Recovery Management Branch, Rep. by Its Chief Manager, 55, Ethiraj Salai, Chennai-8; S. Ebruramusa S/o. Sheriff, 35/18, III Floor, Coral Merchant Street, Mannady, Chennai-1

Vs.

B. Venkataraman S/o. Late S. Balasubramaniam, 9/11, III Street, Nanganallur, Chennai-61; Lalitha; Banumathi; Subashree.

...Applicant

...Defendant

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002) [SARFAESI Act], Sections 34 & 17 Ouster of Civil Court Jurisdiction-Maintainability of Civil Suit challenging recovery measures taken under SARFAES! Act Sale of Secured Assets Bar to maintain Civil Suit - Plaintiff originally filed Suit for declaration that equitable mortgage created with Secured Creditor as null and void and for Permanent Injunction Contention of Plaintiff that Secured Assets are their ancestral properties and same cannot be mortgaged to Bank by other member of Hindu Joint Family Subsequently Plaintiff filed Amendment Application seeking relief of partition and separate possession Legality - Any questions incidental to Secured Assets including nature of property can be decided only by Tribunal and Civil Suit is not maintainable- Tribunal can adjudicate and declare right of parties in respect of Secured Asset Suit filed by Plaintiff is not maintainable which is expressly barred under Act - Plaint is liable to be rejected.