In Brief
Bank officers (Deputy General Managers) faced criminal charges for allegedly cheating a loan defaulter through undervaluation of mortgaged property sold under the SARFAESI Act. The Supreme Court allowed their appeal and quashed the criminal complaint, holding that disputes over asset valuation, NPA classification, and auction procedures under the SARFAESI Act must be resolved through the Act's built-in statutory remedies (DRT/DRAT) rather than criminal prosecution. The Court found that pursuing criminal law after statutory remedies were exhausted amounted to abuse of process and would improperly allow police to revisit determinations already made by specialist tribunals.
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