Sarfaesi

vishvendratomar (Querist) 25 May 2015 This query is : Resolved
What is the scope of section 17 of the SARFAESI act? Can DRT give a declaratory leave? Can DRT do anything beyond the scope of section 13? Please tell with some relevant case laws.

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Guest (Expert) 25 May 2015
As a law student, what is your own view about the scope of section 17. If you really want to learn appropriately, better give your views and ask the experts whether your interpretation is correct or not.

vishvendratomar (Querist) 26 May 2015
Sir, what I interpret about the scope of section 17 is that unless there is a contravention of section 13, the borrower cannot approach DRT. But Sir what I am not able to understand is whether DRT can isssue a declatory leave or ask the company to inquire into the role of its directors (such as fraud, negligence) pertaining to the particular terms of the contract or issue any other orders or directions?