In Brief
Kotak Mahindra Bank sought to challenge a High Court order that had reversed the bank's possession of a mortgaged property and restored it to a defaulting borrower. The borrower had contested the bank's security enforcement proceedings under the Securitization and Reconstruction of Financial Assets Act, 2002 through writ petitions. The Supreme Court dismissed the bank's petitions as infructuous, noting that the borrower had the statutory remedy of appealing to the Debt Recovery Tribunal and should not have filed writ petitions. Since the borrower's default securitization application was dismissed and not restored, no substantive issue remained for examination. The Court reaffirmed that statutory remedies should be exhausted before resorting to constitutional petitions.
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