Indian Overseas Bank v. The State Of Maharashtra

3.WP.7823.17.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

CIVIL APPELLATE JURISDICTION WRIT PETITION NO. 7823 OF 2017 Indian Overseas Bank ... Petitioner V/s.

State of Maharashtra ... Respondent Mr. A.R. Gole i/b Medha Rane for the Petitioner. Mrs. K.R. Kulkarni, A.G.P. for the Respondent. CORAM : A.A. SAYED AND V.L. ACHLIYA, JJ.

DATE : 9th FEBRUARY, 2018.

P.C. :

It is not in dispute that the Application under Section 14 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act), filed by the Petitioner Bank, now stands disposed of. In the circumstances, no directions are necessary in the Petition which seeks expeditious disposal of the Application. The Petition is, therefore, disposed of as infructuous. We are, however inclined to observe that it is expected of the Chief Metropolitan Magistrate to dispose of such Applications under Section 14 of the SARFAESI Act keeping in mind the proviso to Section 14 which mandates the Chief Metropolitan Magistrate to decide the Applications within a period of 30 days and at the highest 60 days. (V.L. ACHLIYA, J.) (A.A. SAYED, J.) Waghmare 1/1