Cal HC holds SARFAESI remedy prevails

The Calcutta High Court, by its judgment dated 7 August 2026, allowed the bank's appeal and dismissed the borrower's writ petition challenging the levy of penal interest and declaration of its account as NPA. 

The Court held that the SARFAESI Act provides a complete and efficacious statutory remedy and that the writ petition ought not to have been entertained once proceedings under Sections 13 and 17 of the Act had been invoked.