No Writ maintainable against NBFC: Delhi HC directs Petitioner to approach DRT under SARFAESI Act

The Delhi High Court ruled that a writ petition is not maintainable against a Non-Banking Financial Company (NBFC) for disputes related to loan recovery. The petitioner was directed to approach the Debt Recovery Tribunal (DRT) under the SARFAESI Act. This decision reinforces that SARFAESI Act procedures are the exclusive remedy for disputes involving NBFCs' actions related to asset recovery. The court emphasized the importance of adhering to specific legal avenues prescribed for such financial disputes and ensuring that such cases are handled by the specialized tribunal to maintain judicial efficiency.