x

Like our Facebook Page

   
Early Times Newspaper Jammu, Leading Newspaper Jammu
 
Breaking News :   2 Lakh More Aspirants For NEET This Year | Magnitude 5.9 quake strikes southern Iran, no casualties reported | Now driving a taxi, auto no longer requires a commercial license | ‘Modi go home’ posters greet Prime Minister Narendra Modi in London | SC for fair trial in Kathua rape-murder case | Did not support lawyers' protest in Kathua case: Jammu HC Bar Association to SC | SC dismisses pleas seeking probe in special judge B H Loya's death case | World Liver Day 2018: 9 Foods That Help Cleanse Liver Naturally! | No end to embarrassment for Yogi Adityanath: UP Minister says Mayawati rule was better, later takes U-turn | 2 killed in Indonesia quake | Delhi set to get hotter | What Owaisi had to say about the Mecca Masjid blasts verdict | Narendra Modi in UK: PM sounds 2019 poll bugle in London, tries to rationalise burden of expectations on him | Rich Dogra heritage left to rot, thanks to uncaring officials | Where's Heritage Conservation Act? | Another recruitment scam in RMSA | 'Architect of AoA not invited to PDP's crucial meeting | Kathua case: Anti-social elements trying to assassinate character of my husband, daughter, alleges woman | Father of 5 brutally tortured by Kishtwar police | Why no protests over Kulgam Sex Scandal? | NHM slammed for holding 'useless' screening camps | Management unit to help in proper implementation of climate change plan | Swachh Bharat Diwas observed at Kishtwar | Sub junior karate team flagged off for national karate championships | Vomedh Rangmanch stages Shuhul Taaph-2018 | Major reshuffle in Forest Department | CBI will probe Kathua case whether or not Mehbooba Mufti wants it, says sacked BJP minister | Member of family that lost 5 members in Pak shelling provided govt job | Three KAS officers among 4 transferred | Cabinet reshuffle to take place any day after April 22 | Pak stooges activate stone-pelting modules in Kashmir | Hurriyat demands for Nizam-e-Mustafa under 'callipha' in J&K State | US to help India in resolving energy crisis | President Kovind condemns Kathua case as shameful | Something wrong with our society: Mehbooba Mufti | In Kathua, 14 ISM dispensaries sans docs | PHC Sudh Mahadev functions without Allopathic doctors | CIC's direction to DSEK to provide para wise info to aggrieved | 166 per cent more civilian fatalities in Jammu, Kashmir in 2017: MHA | Mobile internet services restored in Jammu | Counsel files petition in HC seeking direction to meet his client in jail | Court awards one year RI to Patwari for forging revenue records | Show more sensitivity in dealing with questions relating to fundamental rights of citizens: HC to Courts | HC quashes bail in minor's kidnapping, rape case | ET report upsets DIO Rajouri | 23 bovines rescued, 4 vehicles seized | Multi crore scam surfaces in Education Department | Political interference in SWD condemnable | Farooq Abdullah urges India, Pakistan to resume dialogue | J&K to soon get a State Commission for Protection of Child Rights | Notary licenses of 2 advocates suspended | Jammu-Srinagar highway closed, Mughal Road opened for one-way traffic | 8 years on, Azmabad-Atoli road awaits completion | MPEJ seeks end to deceitful politics | Kandi Chattri village without power for two weeks | MJR, SAD delegation call on Dy Chief Minister | 2 drug peddlers held with 18 gram heroin | Appointment of Public Notary: Law Deptt issues revised interview schedule | Notary licenses of 2 advocates suspended | Garbage dumped inside SDH Mendhar puts patients' health at risk | BJP's conflicting statements in Rassana case intriguing: Harsh | People suffer, hand pumps go dry | Sri Sri Ravi Shankar conferred international leadership award | "Swachh Bharat Diwas" organized | NSF seeks CBI enquiry in Rassana case | Agriculture Department organizes awareness camp | Umeed (JKSRLM) celebrates "Gram Swaraj Abhiyan" | GGF sensitizes students about SDG | National conference concludes CU Jammu | Inter School District Level Competitions concludes | DPS celebrates international heritage day | Shiksha Niketan organizes drawing competition | Mega Kabaddi event to begin on April 23 | Bikes Rally on eve of Parshuram Jayanti | KPS Barnoti conducts maths workshop | Carmel Convent School celebrates "World Heritage Day" | Students of GWC Gandhi Nagar visit Krishi Bhawan | JKBA junior B'ball gets underway | NHM launches 5-day training programme | PSA condemns Govt for imposing cases on Private Schools | HHM celebrates "World Heritage Day" | Red Cross organizes medical check up camp | Kashyap elevated as Director NYK J&K | Birth Anniversary of Madhu Param Hans celebrated | HWO awards Early Times correspondent, others | NDA organizes seminar on drugs control | Dismissal of Govt. only way to restore confidence of people in state: Prof Bhim Singh | Inter Zone Football Tournament concludes at Doda | AJKYF discusses issues of youths | CCPPWU criticizes postal service in Kishtwar | JTC, SKF raise issues of shortage of accommodation | Jodhamal School wins Inter School Table Tannis Tournament | Back Issues  
 
news details
'Civil court lacks jurisdiction to enforce security interest over secured assets'
5/18/2017 11:22:04 PM
Early Times Report
Jammu, May 18: Additional sessions judge, Jammu, Shahzad Azeem today said there 'remains no doubt that civil court lacks jurisdiction to enforce security interest of secured creditor over secured assets. This power exclusively lies with DRT under section 17 of SARFAESI Act, and in J&K is exercisable by the court of district judge, having jurisdiction over the borrower in terms of section 17-A of the Act'.
The court directive came in an appeal filed by one Garu Ram under section 17-A of SARFAESI Act against the February 02, 2017 notice under section 13(4) of the Act by respondents.
The judge said section 17 (17-A in J&K) of SARFAESI Act 'empowers an aggrieved person (including borrower) to make application against any of the measures referred in section 13 (4) of the Act and DRT (court of District Judge) shall consider whether any of these measures taken by the secured creditor are in accordance with the provisions of this act and the rules made thereunder. If it is found that the measures are not in accordance with the provisions of this Act and the rules made thereunder, inter alia, it may by order require restoration of the management of the borrower's business or restoration of the possession of his secured assets. Therefore, for enforcing security interest over the immoveable property, taking over possession of secured assets is sine-qua-non, and it is only, thereafter, debt can be realized by auction or other modes available to the secured creditor'.
With these observations, the court held that the impugned notice, under challenge 'proceeds on the premise that owners of the property were directed by the authorized officer of the concerned bank to handover the possession of the secured assets within 30 days'. "Therefore, from the tone and tenor of the notice under challenge it is obvious that only the applicant is asked to handover the vacant possession of the property in question. Thus, it cannot be said that the measure as envisaged under section 13(4) of SARFAESI Act has yet been taken. Therefore, for this reason appeal is not maintainable," the court directed.
  Share This News with Your Friends on Social Network  
  Comment on this Story  
 
 
 
Early Times Android App
STOCK UPDATE
  
BSE Sensex
NSE Nifty
 
CRICKET UPDATE
 
 
 
 
 
 
 
 
   
Home About Us Top Stories Local News National News Sports News Opinion Editorial ET Cetra Advertise with Us ET E-paper
 
 
J&K RELATED WEBSITES
J&K Govt. Official website
Jammu Kashmir Tourism
JKTDC
Mata Vaishnodevi Shrine Board
Shri Amarnath Ji Shrine Board
Shri Shiv Khori Shrine Board
UTILITY
Train Enquiry
IRCTC
Matavaishnodevi
BSNL
Jammu Kashmir Bank
State Bank of India
PUBLIC INTEREST
Passport Department
Income Tax Department
JK CAMPA
JK GAD
IT Education
Web Site Design Services
EDUCATION
Jammu University
Jammu University Results
JKBOSE
Kashmir University
IGNOU Jammu Center
SMVDU