Legal Question in Banking Law in India

Whether bank is enrltitled to adopt SARFASI action after filling of the civil suit in the court


Asked on 6/24/18, 5:54 am

1 Answer from Attorneys
Vivek Mapara Vivek N. Mapara

Yes Bank is entitled to initiated proceedings under SARFAESI Act, despite pendency of Civil Suit. The law is well settled by the Supreme Court in 2007, in the Judgment of Transcore, where the Supreme Court cleary said that doctrine of election is not applicable in case of SARFAESI. So, yes. Bank can proceed simultaneous under SARFAESI and also under Civil Court

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Answered on 6/27/18, 10:25 am


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