PHR INVENT EDUCATIONAL SOCIETY versus UCO BANK AND OTHERS
The High Court erred in entertaining and allowing the writ petition under Article 226 despite the availability of efficacious alternative statutory remedies under the SARFAESI Act and DRT procedure; the sale in favor of the auction purchaser had been confirmed and registered and, absent any allegation or proof of fraud or collusion, could not be reopened. Therefore the High Court order was quashed and the writ petition dismissed with costs.
Source excerpt
- Article 226
- Alternative remedy
- Exhaustion of statutory remedies
- Writ jurisdiction
- Auction sale confirmation and registration
- Recovery of bank dues