Securitisation and Reconstruction of Financial Assets and
Enforcement of Security Interest Act, 2002 - ss. 13(4), 17 and 34 -
Suit against proceedings initiated uls. 13(4) - lnvolving debt less C
than Rs. 10 lakhs - Whether the suit is not maintainable in view of
bar u!s. 34 or is it maintainable in view of s. 1 (4) of DRT Act which
debars the jurisdiction of the Tribunal in respect of debts below Rs.
JO lakhs - Held: The jurisdiction of civil court is barred in respect
of action taken under the SARFAESl Act and the remedy available
is before the Tribunal under DRT Act - As per s. I (4) of DRT Act, D
provisions of DRT Act would not apply where the amount of debt is
less than Rs. JO /akhs - But the aggrieved debtor cannot be left
without any remedy - Therefore the provision uls. 1 (4) of DRT Act
can be interpreted in such a manner which would not adversely
affect legal remedy to a debtor - Bar uls. 1( 4) can be interpreted as E
limited to the original jurisdiction of the Tribunal - Tribunal will
have the jurisdiction to entertain the case in re~pect of proceedings
under. the Act (where the amount involved is less than Rs. JO lakhs)
in exercise of its appellate jurisdiction u/s. 17 - Recovery of Debts
Due to Banks and Financial institutions Act, 1993 - s. 1 (4).