WPMS/1543/2021
2021 Latest Caselaw 3133 UK

IN THE HIGH COURT OF UTTARAKHAND
                    AT NAINITAL
     ON THE 16TH DAY OF AUGUST, 2021
                             BEFORE:
 HON'BLE SHRI JUSTICE MANOJ KUMAR TIWARI


     Writ Petition (M/S) No. 1543 of 2021


BETWEEN:

Shri Sanjeev Lal and another.                       ....Petitioners
     (By Ms. Gurbani Singh, Advocate)



AND:

Union of India & others.                ....Respondents
     (There is no representation for respondents)



                        JUDGMENT

Petitioners are borrowers. They are challenging the judgment rendered by Debts Recovery Tribunal, Dehradun in Securitization Application No. 35 of 2018. They are also challenging the order passed on their review application.

2. Since petitioners have a statutory remedy of filing appeal before Appellate Tribunal constituted under Section 18 of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, therefore, this Court is not inclined to entertain this writ petition.

3. Accordingly, writ petition is dismissed on the ground of alternative remedy with liberty to the petitioners to approach the Appellate Tribunal.

4. Learned counsel for the petitioners submits that petitioners will approach the Appellate Tribunal within three weeks.

5. For a period of three weeks only, no third party interest shall be created over the property in question.

(MANOJ KUMAR TIWARI, J.) Navin