Securitization & Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2001–Sec. 34–Code of Civil Procedure, 1908–Order 7, Rule 11–Suit for declaration and permanent injunction–Application under Order 7, Rule 11 by the petitioner with contending that the suit is not maintainable as it has initiated the proceedings for recovery of loan amount under the SARFAESI Act–Dismissal of application–As per Sec. 34 of the Act, Civil Court has no jurisdiction–Plaintiff wanted to challenge the proceedings initiated by the petitioner-bank by way of the suit–Impugned order passed by the Trial Court is liable to be set aside–Suit is dismissed as barred by law.
