S. 29(2) of Limitation Act, 1963 not applicable to SARFAESI Act

Supreme Court: In the case where the bench of J.S. Khehar and A.K. Goel, JJ was posed with the question that whether the Appellate Tribunal under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (the SARFAESI Act) has the power to condone delay in filing an appeal under Section 18(1); of the said Act, the bench answered the question in the affirmative.

The Court was of the view that Section 29(2) of the Limitation Act, 1963 has no absolute application, as SARFAESI Act impliedly excludes applicability of provisions of Limitation Act to the extent a different scheme is adopted. If no provision of Limitation Act was expressly adopted, it may have been possible to hold that by virtue of Section 29(2) of the Limitation Act power of condonation of delay was available. It was further held that the power of condonation of delay was expressly applicable by virtue of Section 18(2) of the SARFAESI Act read with proviso to Section 20(3) of the RDB Act and to that extent, the provisions of Limitation Act having been expressly incorporated under the special statutes in question, Section 29(2) of Limitation Act stands impliedly excluded.

Hence, the Court held that delay in filing an appeal under Section 18 (1); of the SARFAESI Act can becondoned by the Appellate Tribunal under proviso to Section 20 (3) of the RDB Act read with Section 18 (2) of the SARFAESI Act. Baleshwar Dayal Jaiswal v. Bank of India, 2015 SCC OnLine SC 686, decided on 05.08.2015

 

Join the discussion

Your email address will not be published. Required fields are marked *

one × 4 =