Securitisation and Reconstruction of Financial Assets and Enforcement of Security interest Act (2002), Ss.17, 14, 13(4) – Appeal against order of Magistrate passed under Section 14 – Maintainable – Appeal u/s.17 is available to the borrower when he loses possession of property – The “appeal” under section 17 is available to the borrower against any measure taken under section 13(4) – Taking possession of the secured asset is only one of the measures that can be taken by the secured creditor – Depending upon the nature of the secured asset and the terms and conditions of the security agreement, measures other than taking the possession of the secured asset are possible …
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