Constitution of India – Article 226/227
Securitisation and Reconstruction of Financial Assets and Enforcement of Security interest Act, 2002 – Sections 13, 14 and 17
Appeal – Alternate remedy – It is manifest that an action u/s 14 of the Act constitutes an action taken after the stage of Section 13(4), and therefore, the same would fall within the ambit of Section 17(1) of the Act. Thus, the Act itself contemplates an efficacious remedy for the borrower or any person affected by an action u/s 13(4) of the Act, by providing for an appeal before the DRT.
