In Brief
M. Waseeq Cafeteria challenged recovery proceedings initiated by a bank under the SARFAESI Act, primarily disputing the interest charged. The Supreme Court found that the sole remaining grievance concerned interest, which was subject to arbitration under the Multi-State Cooperative Societies Act, 2002. Rather than continuing SARFAESI proceedings, the Court directed the Arbitrator to deliver a final award within one month, preserving the aggrieved party's right to seek revision. The Writ Petitions were disposed of accordingly.
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