Union Bank Of India v. The State Of Maharashtra And ORS

927.WP.102.20 (corrected).doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

CRIMINAL APPELLATE JURISDICTION WRIT PETITION NO.102 OF 2020 Union Bank of India .....Petitioner

Versus

Government of Maharashtra & Ors.

.....Respondents Mr. O.A. Das, Advocate for the Petitioner.

Mr. S.S. Hulke, APP for the Respondent-State. CORAM : SURENDRA P. TAVADE, J.

DATE : 10th JANUARY, 2020 P. C. :

1.

Heard learned counsel for the respective parties. 2.

Learned counsel for the petitioner submits that Respondent No.2 had taken loan, which was remained unpaid, for which the huge property was mortgaged in favour of the petitioner. The order was passed under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act, 2002). It was incumbent upon the District Magistrate Ratnagiri to execute the order within two months, the petitioner had fled an application under Section 14 of the SARFAESI Act, 2002 before the District Magistrate Ratnagiri on 25.09.2018, but till today no action has been taken by the District Magistrate Ratnagiri for realisation of the amount as per the provisions of the SARFAESI Act, 2002. The said application is required to be decided within two months. The unpaid amount is huge, therefore, issue direction to respondent No.3 to take immediate Aarti Palkar 1/2

927.WP.102.20 (corrected).doc action on the application submitted by the petitioner under Section 14 of the SARFAESI Act, 2002 and compliance report to be submitted in this Court within a period of two months from today.

3.

Accordingly, the writ petition is disposed of. [SURENDRA P. TAVADE, J.] Aarti Palkar 2/2