
Supreme Court flags ‘interpretative deadlock’ between S. 13(8) of SARAFESI Act & Rr. 8/9 of SARFAESI Rules; Urges Finance Ministry to act in earnest
“The interpretative deadlock between the provision and the rules has single handedly resulted in a huge mess insofar as enforcement of security interest is concerned., giving birth to an endless pipeline of litigation clogging the specialized forums of the DRT and DRAT, that are expected to expeditiously decide matters of recovery of debt”.