Securitization & Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002–Sec. 13–Constitution of India, 1950–Art. 226–During the course of commercial transactions and under the contract, the Bank/ARC lent the money to the borrower herein and, therefore, the said activity of the Bank/ARC cannot be said to be as performing a public function which is normally expected to be performed by the State Authorities–If proceedings are initiated under the SARFAESI Act and/or any proposed action is taken and the borrower is aggrieved by any of the actions of the private bank/bank/ARC, he has to avail the remedy under the SARFAESI Act and no writ petition would lie and/or is maintainable and/or entertainable.
