Action performed under a statute act- remediable?
s.loganathan
(Querist) 10 October 2010
This query is : Resolved
The question is, if an issue once decided by a statute act, would it be remediable or will it be hit by Res-judicata?
Would that remedy automatically happen on default? If a statutory act is performed by the Authorised Officer of a Secured Creditor in exercise of the powers under the Sarfaesi Act in taking possession and affixing the possession notice u/s 13(4) on the property. If the said Secured Creditor defaults to make the mandatory paper publication, thus vitiating the further process. Would the property be automatically reconveyed to the borrower, or would the Authorised Officer by his notice reconvey the property, so that he can reissue the process of 13(2)? Pls throw some light on this.
s.subramanian
(Expert) 11 October 2010
Nothing is automatic. The aggrieved must initiate proceedings before the DRT and have the proceedings of the bank quashed on these grounds. Then it is left to the discretion of the DRT to grant liberty to the Bank to proceed afresh in accordance with law.
