Pankaj Kumar Tiwari vs Indian Overseas Bank Asset Recovery ...

The Supreme Court examined the validity of a High Court stay on a Civil Court order concerning a bank's recovery proceedings under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act. The Court emphasized the importance of respecting the jurisdiction of Civil Courts in recovery matters and scrutinized whether the High Court's intervention under Article 226 was justified. The Court ultimately held that the High Court's stay was unwarranted, reaffirming the primacy of Civil Court proceedings in such cases. The appeal was allowed, and the stay was vacated.