Only The Secured Creditor Can Initiate Action Against The Borrower Under SARFAESI Act: Karnataka HC [Read Order]

The Karnataka High Court has held that only the secured creditor, and no other person or entity, can initiate action against the borrower under the Secularization and Reconstruction of Financial Assets and Enforcement of Securities Interest Act (SARFAESI).Justice L Narayana Swamy and Justice R Devdas while setting aside the order passed by the Debt Recovery Appellate Tribunal (DRAT),...