Consumer Commission Has No Jurisdiction To Entertain Matters Coming Under Purview Of SARFAESI Act: Orissa High Court

A borrower, Ms. Anita Rao (name changed to protect privacy), defaulted on a loan from Central Bank of India. The bank initiated proceedings under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI Act) to recover the debt. Ms. Rao challenged the bank's action before the Debt Recovery Tribunal (DRT) as per the provisions of the SARFAESI Act. However, she also filed a separate complaint…