Whether bill of exchange will cover under ni act or sarfaesi

Bank shall use SARFAESI Act. However it depends on nature of notice.

NIA is about stipulations in transactions on duties and obligations  between  involved partieswhereas SARFAESI Act is altogether a separate enactment for recovery of amounts from borrowers applicable to financial institutions alone..  Both these are separate and serve for two different purposes.

Dear Sir,

Thanks for reply, But whole transaction made between Bank and Exporter was "Bills of Exchange Transaction" no loan or OD limit was requested/ granted by Exporter and Bank. Bank purchese the bills after discount. But drawee failed to pay to Bank. In present situation Bank must invoke Negotible Instrument Ac rather invoking SARFAESI or other Laws. I am stll not clear wheher Bank shouls invoke SARFAESI or Nagotible Instrument Act. Please Guide me. 

Thanks for reply Sir, But in current situation Party never borrowed any amount, OD Limit etc from Bank. It was merely a transaction of Bills of Exchange.  Exporter presented bills before Bank and on the other hand Bank purchesed those Export Bills after discount (Considration). Some Bills were Dishonoured, my question is whether in abovementioned situation Bank starts proceedings under SARFAESI or not. Because we have a seprate Law to deal Promissory Notes, Bills of Exchange and Cheque. or I can rephrase it "whether SARFAESI Act surpass all existing laws even including Negotible Instrument Act. 

GUIDE ME SIR