"Alarming Situation": Authorities Ordered To Restore Bank's Possession Over Mortgaged Property Forcibly Taken By Defaulter: Rajasthan High Court

The Rajasthan High Court in its recent judgment addressed a significant case involving the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (commonly known as the SARFAESI Act, 2002). This case revolves around the wrongful possession of mortgaged property by a borrower, despite the bank legally taking possession of the property following the borrower's default on a loan repayment. Background of the Case The petitioners,…