All India Society for Advance Education & Ors. vs. Kotak Mahindra Bank Ltd. & Ors.

Securitisation & Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002–Sec. 13(2), 13(4)–Availability of alternative remedy–Case of petitioner that after the issuance of earlier notice u/s. 13(2) and the subsequent action u/s. 13(4) & 14 of the Act, petitioners have deposited a sum of Rs. 3.65 crores against the demand of Rs. 5 crores–However, now by the new notice, demand of Rs. 20 crores were raised–No alternative remedy is available to petitioners at this stage–Declined to vacate the interim stay.