Surendra Kumar Dwibedi v. Idfc First Bank Ltd.,Chennai

IN THE HIGH COURT OF ORISSA AT CUTTACK

WP(C) No.21893 of 2022 Surendra Kumar Dwibedi & Another ....

Petitioners Mr. Bijaya Kumar Mallick, Advocate -versusIDFC First Bank Limited (formerly known as Capital First Limited) & Another ....

Opposite Parties None

CORAM:

JUSTICE JASWANT SINGH JUSTICE M.S. RAMAN Order No.

ORDER (Oral) 29.09.2022 03.

This matter is taken up by virtual/physical mode. 1.

The Petitioners are stated to have raised loan for a sum of Rs.10,97,000/- for business purposes in April, 2018 from IDFC First Bank Limited (non-banking finance company). Due to financial indiscipline, recovery of the outstanding liabilities under the SARFAESI Act is stated to have commenced. 2.

By filing the present writ, the prayer made is for quashing the proceeding bearing Bank Case No. 23 of 2022 upon an application filed under Section 14 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 by the secured creditor for providing official assistance for taking over actual physical possession, stated to be

// 2 // pending before the District Magistrate-cum-collector, Cuttack. We find the present writ to be totally misconceived and misplaced. 3.

It is well settled that the proceedings before the District Magistrate in the application under Section 14 of the SARFAESI Act are in the nature of execution proceedings, which are not open to challenge during the pendency and after conclusion, the remedy is before the DRT, Cuttack in an application under Section 17 of the SARFAESI Act.

4.

In view of the above, the writ petition is dismissed. (Jaswant Singh) Judge (M.S. Raman) Judge Aks September 29, 2022 Cuttack