GIRISH SANGAPPA JAGGAL vs UNION OF INDIA MINISTRY OF FINANCE DEPARTMENT OF ECONOMIC AFFAIRS SECRETARY.

The Supreme Court addressed the jurisdictional issue regarding the enforcement of recovery under The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, in the context of a cooperative bank. The Court held that it is in the interest of the petitioner to expedite the recovery process and directed the bank to first proceed against the two properties listed in Schedule 'B' before considering the sale of a fourth property. The petitioner was also restrained from initiating further litigation regarding the sale process without court permission.