BALANCING OF INTERESTS OF BOTH CREDITORS AND DEBTORS - CRITICALANALYSIS OF JUDICIAL INTERPRETATION OF SARFAESI ACT 2002

Abstract

Internet buying is acquiring prevalence in India. There is a rising measure of contemplation and investigation into the elements that impact a client's internet buying propensity. This study distinguishes the attributes that impact web based buying conduct as well as the variables that impact internet buying conduct among occupants of Delhi and NCR. Four essential highlights have been distinguished as affecting internet shopping conduct, while four variables have been recognized as impacting clients' buying conduct in a web-based setting. For a similar reason, administrative handiness has been created. As a coin has two sides, a statutory provision / a rule is also capable of having more than one meaning and to ascertain the intended meaning of legislature is the province of sovereign courts. The statement of objects and reasons of SARFAESI Act 2002 throws ample light on intention of the legislature to legally empower the creditor in terms of enforcement of security interest. However any action – legislative or administrative, must live up to the standard of reasonableness and balance the conflicting interest. SARFAESI Act 2002 when enacted was perceived as draconian by the debtors and was also branded as absolutely Pro-creditor, therefore it becomes pertinent to examine whether the judicial pronouncements have an absolute Pro-Creditor interpretation or they have also protected the legal rights of borrowers.