Union Bank Of India & Anr vs Panchanan Subudhi

The Supreme Court held that the High Court erred in entertaining the writ petition filed by the respondent, as he failed to comply with the terms of a one-time settlement and had a statutory alternative remedy available under Section 17 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. The Court set aside the High Court's order directing the appellant bank to accept payment in installments, thereby dismissing the writ petition. The appeal by the Union Bank of India was allowed.