UNION BANK OF INDIA vs PANCHANAN SUBUDHI

The Supreme Court held that the High Court erred in entertaining the writ petition filed by the respondent, who failed to comply with the terms of a one-time settlement with the bank. The Court emphasized that a statutory alternative remedy under Section 17 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 was available to the respondent, making the writ petition unjustifiable. Consequently, the appeal was allowed, the High Court's order was set aside, and the writ petition was dismissed.