Elkayem Auto Ancillaries P Ltd v. The Union Bank Of India

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 12.04.2024

CORAM

THE HON'BLE MR.SANJAY V.GANGAPURWALA, CHIEF JUSTICE AND THE HON'BLE MR.JUSTICE J.SATHYA NARAYANA PRASAD Elkayem Auto Ancillaries (P) Ltd., rep. By Executive Director Arvnind Adhi : Petitioner versus 1.The Union Bank of India Managing Director & DEO, Union Bank Bhavan, 239, Vidhan Bhavan Marg, Nariman Point, Mumbai 400021.

2.The Union Bank of India Stressed Assets Management Branch, rep. By its Authorised Officer, Nos.28 and 39, Whites road, Royapettah, Chennai 14.

: Respondents Prayer: Petition filed under Article 226 of the Constitution of India for issuance of a Writ of Mandamus directing the respondents to make an application under Section 14 of the SARFAESI Act 2002 before the Chief Metropolitan Magistrate or District Magistrate to effect the delivery of actual physical possession of Industrial Plot No.101A measuring an extent of 1.14 Acres together with building thereon in SIPCOT Industrial complex comprised in S.Nos.98 Part and 99 Part of Zuzvadi Village, Hosur Taluk, Krishnagiri District conveyed under sale Certificate dated 13.03.2023 executed by the 2nd respondent in favour of the petitioner and registered on 24.03.2023 in Doc.No.5618/2023 in the office of the Sub-registrar Hosur and handover the same to the petitioner within a time-frame.

For Petitioner :

Mr.V.P.Sengottuvel, Senior Counsel, for Mr.K.R.Nishanth For Respondent No.2 :

Mr.N.Muthuperiyasamy

ORDER

(Made by the Hon'ble Chief Justice) We have heard Mr.V.P.Sengottuvel, learned Senior Counsel for the petitioner and Mr.N.Muthuperiyasamy, learned counsel appearing for the second respondent.

2. Learned Senior Counsel for the petitioner submits that though the sale has been confirmed in favour of the petitioner and the petitioner has paid the entire amount in March 2023, possession is not yet delivered.

3. Learned counsel for the second respondent submits that in May 2023, an application was filed before the learned Chief Judicial Magistrate, Krishnagiri, under Section 14 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, for possession. However, the same was returned

because of certain defects. The defects have been cured and it was represented on 03.04.2024.

4. Learned Chief Judicial Magistrate, Krishnagiri, shall decide the said application on merits and in accordance with law, as expeditiously as possible, preferably within a period of four months.

5. The writ petition stands disposed of. There shall be no order as to costs.

(S.V.G., CJ.) (J.S.N.P., J.) 12.04.2024 Index : Yes/No : Yes/No tar To The Chief Judicial Magistrate, Krishnagiri

THE HON'BLE CHIEF JUSTICE AND J.SATHYA NARAYANA PRASAD, J.

(tar) 12.04.2024