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Judgment
S.N. Satyanarayana, J.—This Review Petition is tiled seeking recall of order dated 26.10.2010 in dismissing their W.P. Nos. 30103/2009 & 30244/2009 C/w W.P. No. 31219/2009. The said petitions were filed challenging the notice issued by the first Respondent - Bank.
Counsel appearing for the review Petitioners state that what was challenged by the writ Petitioners in said writ petitions was not the notice issued u/s 13 of the SRFAESI Act. The notice that was challenged was one, which was issued to conduct the auction of the property, which was already attached under the SRFAESI Act. In the writ petitions it was contended that the value of the property is below the market price and as such Petitioners had suffered injustice at the hands of the Recovery Officer and other Officers of Respondents, who are instrumental in selling their property for upset price. Therefore, the same is amenable to the writ jurisdiction of this Court.
Heard the counsel appearing for the review Petitioners. Perused the grounds urged in the review petition. The provision of SRFAESI. Act is very clear, so also the judgment rendered in the case of United Bank Of India v. Satyawati Tondon and Ors. [3 (2010) BC 495 (SC)] wherein the Apex Court has clearly stated that any order passed under SRFAESI Act is subjected to application/appeal before the DRT/DRAT. When an alternative remedy is available, this Court has no jurisdiction to go into the same in its writ jurisdiction. In the light of the aforesaid decision, it is made clear that even the action of the Respondents herein in selling the property of the Petitioners for an upset price without observing the relevant provision of law, is also subject matter of DRAT and cannot be gone into in this writ, petition.
With these observations, the review petition filed by the Petitioners is dismissed, as it has no merit. However, liberty is reserved to Petitioners to approach the appropriate authority to challenge the said notice/order within fifteen days from the date of receipt of this order, either by filing necessary application/appeal. On filing of such application/appeal, the competent authority shall consider the same on merits without rejecting it on the grounds of delay.