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Judgment
Justice Kurian Joseph, C.J.—The appellant is the petitioner in the writ petition. The writ petition was filed aggrieved by the recovery steps initiated by the respondents, leading to Annexure P-4, notice issued u/s 13(4) the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. The learned single Judge declined to interfere holding that in the facts and circumstances, the writ petition under Article 226 of the Constitution of India cannot be entertained. We find that the learned single Judge has rightly held that in the background of the facts in dispute in the case, it will not be proper for this Court to exercise its jurisdiction, particularly since the petitioner has effective remedy u/s 17 of the Act.
Therefore, this appeal is dismissed. However, it is made clear that the period during which the proceedings were pending before this Court starting with 22nd March, 2011 will stand excluded while computing the period of limitation, in case the appellant pursue the remedy u/s 17 of the Act.