“Alternative Remedy Available”: Orissa HC Refuses To Interfere In Bank Of India’s SARFAESI Action

The Orissa High Court refused to quash Bank of India’s SARFAESI action (auction of mortgaged property), holding that the borrowers must first use the debt-recovery mechanisms provided under the SARFAESI Act. The Court reiterated that when a self-contained remedy exists under the Act (such as application to the Debt Recovery Tribunal), it should not be bypassed by a writ petition. The judgment emphasises respect for the statutory framework created for asset reconstruction, and dissuades misuse of judicial writs to short-circuit recovery processes. (Taxscan)