Writ Jurisdiction Not Maintainable when Alternative Remedy Contemplated under SARFAESI Act: Madras...

The Madras High Court has reiterated that writ jurisdiction is not maintainable when an alternative remedy is contemplated under the SARFAESI Act. This consistent stance by the High Court emphasizes that the SARFAESI (Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest) Act provides a robust framework for addressing grievances related to secured asset enforcement by banks and financial institutions. The court encourages petitioners to utilize these specific statutory remedies, such as appeals to DRT or DRAT, rather than directly approaching the High Court, thereby preserving judicial resources and ensuring specialized adjudication.