High Court cannot exercise its inherent powers against a Magistrate’s order under section 14 SARFAESI Act: SC

The Supreme Court (SC), setting aside the order passed by the Madras High Court (Mad. HC) under section 482 of Cr.PC. quashing the order passed under section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFEASI Act) on the ground that the Magistrate’s order was passed ex-parte, opined that “any remedy against such order can be availed only under the SARFAESI ACT, 2002”.