SARFAESI Act Bars Civil Court Jurisdiction in Recent Himachal Pradesh High Court Judgment

Shimla, January 3, 2024: In a recent judgment by the Himachal Pradesh High Court, the court has reinforced the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act), emphasizing its supremacy and barring the jurisdiction of the civil court. Case Details: The case, titled Nishant Guleria vs. Punjab National Bank & Another, involved an appeal by the plaintiff, Nishant Guleria, challenging…