Civil court barred from hearing cases on securitization

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The Supreme Court has held that if any person has a grievance against any measures taken by a borrower under section 13(4) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, they can approach a debt recovery tribunal (DRT) or the appellate tribunal but not a civil court.

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The dispute digest is compiled by Bhasin & Co, Advocates, a corporate law firm based in New Delhi. The authors can be contacted at lbhasin@bhasinco.in or lbhasin@gmail.com. Readers should not act on the basis of this information without seeking professional legal advice.

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