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Judgment
S.N. Satyanarayana, J.—Petitioners herein are challenging the proceedings initiated by the respondent herein u/s 13(4) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (hereinafter referred to as the SARFAESI Act`), which is pending in Crl. Misc. No. 103/2010 on the file of V Addl. Chief Metropolitan Magistrate, Bangalore.
In this proceeding, on earlier two occasions, there was no representation on behalf of petitioners. Even otherwise, in the light of the judgment rendered by the Apex Court in the matter of United Bank of India Vs. Satyawati Tondon and Others, , it is not open to the petitioners herein to challenge the correctness or otherwise of any of the proceedings initiated u/s 13 of the SARFAESI Act before this Court as effective alternative remedy is available to them.
Therefore, this petition, which is filed challenging the proceedings initiated u/s 13(4) of the SARFAESI Act, in Crl. Misc. No. 103/2010 on the file of V ACMM., Bangalore, cannot be entertained. Accordingly, the same is dismissed.