Section 30(2) of the SARFAESI Act provides that no court

Solution

Section 30(1) provides that no court shall take cognizance of any offence punishable under the SARFAESI Act except upon a complaint in writing made by an officer of the Central Registry or the RBI. Section 30(2) provides the minimum court competence: 'No court inferior to that of a Metropolitan Magistrate or a Judicial Magistrate of the First Class shall try any offence punishable under this Act.' This ensures that offences under SARFAESI are tried by Magistrates of sufficient seniority and experience, providing quality adjudication. This provision is consistent with the approach taken in many financial sector statutes where offences must be tried by courts of prescribed minimum status.