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Sarfesai Act
10-Feb-2023 (In Banking / Finance Law)
E Auction Of Secured Asset Is Possible Before Deciding An Appeal Under Section 17(1)
In the case, the Court stated that the expression “any person” used in Section 17(1) is of wide import. It takes within its fold, not only the borrower but also the guarantor or any other person who may be affected by the action taken under Section 13(4) or Section 14. Both, the Tribunal and the Appellate Tribunal are empowered to pass interim orders under Sections 17 and 18 and are required to decide the matters within a fixed time schedule
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