Secured Creditor cannot Proceed under SARFAESI Act Following Dismissal of Civil Suit for Recovery on Merits: Kerala HC [Read Order]

Secured Creditor cannot proceed under SARFAESI Act following dismissal of civil suit for recovery on merits, rules Kerala HC

By Kalyani B. Nair - On May 22, 2024 3:04 pm - 2 mins read

Kerala High Court - SARFAESI - Secured creditor rights - financial recovery - taxscan

In a recent decision, the Kerala High Court observed that the secured creditor cannot proceed under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) following dismissal of civil suit for recovery on merits. The petitioner availed a car loan for an amount of Rs.9,00,000/-. The petitioner executed…

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