A. Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002), Section 13(2)(4) – Constitution of India, Article 226 -- SARFAESI proceedings – Writ jurisdiction – Interference under Article 226 of the Constitution of India has to be minimal and it is only in exceptional or extraordinary circumstances that intervention should be there.

(Para 5)

B. Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002), Section 13(2)(4) – Constitution of India, Article 226 -- SARFAESI proceedings – One time Settlement/ OTS -- Writ jurisdiction – A Borrower/ guarantor does not have a vested right to seek OTS -- There can be no positive direction to the Bank/ financial institutions for sanctioning OTS.

(Para 6)