AIR 2013 DELHI 172 ::2013 (3) ADR 132 ::(2013) 3 DLT(CRL) 181 ::(2012) 192 DLT 701 ::(2013) 112 CorLA 351 ::2013 (2) RecCivR 252 ::(2012) 4 BankCas 552 ::(2013) 4 JCR 728 (DEL) ::2013 (2) Pun LR 18 ::(2012) 119 AllIndCas 631 (DEL) ::2012 (119) AllIndCas 631

Delhi High Court

Hon'ble Judge(s): A. K. Sikri, Kailash Gambhir, Rajiv Sahai Endlaw , JJJ

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (54 of 2002) , S.17(1), S.17(7)— Appeal/application under S. 17(1) - Can be filed only before DRT within whose jurisdiction property or secured asset is situated and no other DRT - Limits of territorial jurisdiction as described under S. 19(1) of DRT Act are not applicable to S. 17(1) of SARFAESI Act. (2010) 171 DLT 439 (DB), Overruled. Recovery of Debts Due to Banks and Financial Institutions Act (51 of 1993) , S.19(1)— Debts Recovery Tribunal (Procedure) Rules (1993) , R.6— Civil P.C. (5 of 1908) , S.16— The recovery proceeding under the DRT Act are equivalent to a suit for recovery of money before a Civil Court. The DRT Act has not made any departure from Section 16 of the CPC. The situs of the mortgaged property is irrelevant to the proceedings under Section 19(1) of the DRT Act. However the cause of action of the appeal under Section 17(1) of the SARFAESI Act is the taking over of the possession/management of the secured asset and which of action can be said to have accrued only within the jurisdiction of the DRT where the secured asset is so situated and the possession thereof is taken over. It is the said DRT only which can be said to be having 'jurisdiction in the matter' within the meaning of Section 17(1) of the Act. Therefor....