Allahabad Bank v. District Magistrate Faridabad And Others

CWP-702-2019 -1IN THE HIGH COURT OF PUNJAB & HARYANA AT CHANDIGARH CWP-702-2019 Date of Decision: 14.1.2019 Allahabad Bank

...Petitioner

Versus

District Magistrate, Faridabad and others

...Respondents

CORAM:- HON'BLE MR. JUSTICE AJAY KUMAR MITTAL. HON'BLE MRS. JUSTICE MANJARI NEHRU KAUL.

PRESENT: Mr. IP Singh, Advocate for the petitioner. AJAY KUMAR MITTAL, J.

1.

In this writ petition filed under Article 226 of the Constitution of India, the petitioner has prayed for issuance of a writ of mandamus directing respondent No.1 to decide its application dated 4.6.2018 (Annexure P-1) filed under Section 14 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (In short "SARFAESI Act") and to take over the physical possession of the mortgaged properties.

2.

The loan account of respondent No.2 was declared as NPA on 14.3.2018 as it had failed to repay the loan amount taken from the petitioner. The petitioner issued a notice dated 15.3.2018 under Section 13

(2) of the SARFAESI Act raising a demand of ` 8,88,79,926/- as on 14.3.2018. The petitioner took the symbolic possession of the secured assets on 24.5.2018. Thereafter, the petitioner filed an application along with affidavit dated 4.6.2018 (Annexures P-1 and P-2, respectively), under GURBACHAN SINGH 2019.01.17 16:54 I attest to the accuracy and integrity of this document

CWP-702-2019 -2Section 14 of the SARFAESI Act before respondent No.1 for taking physical possession of the mortgaged properties of respondents No.2 to 5, but no response has been received till date. Hence, the present writ petition. 3.

Learned counsel for the petitioner submitted that for the relief claimed in the writ petition, the petitioner has moved an application along with affidavit dated 4.6.2018 (Annexures P-1 and P-2, respectively) under Section 14 of the SARFAESI Act before respondent No.1, but no action has so far been taken thereon.

4.

After hearing learned counsel for the petitioner, perusing the present petition and without expressing any opinion on the merits of the case, we dispose of the present petition by directing respondent No.1 to take a decision on the application dated 4.6.2018 (Annexure P-1), moved by the petitioner, in accordance with law by passing a speaking order and after affording an opportunity of hearing to the concerned parties within a period of one month from the date of receipt of certified copy of the order. (AJAY KUMAR MITTAL) JUDGE January 14, 2019 (MANJARI NEHRU KAUL) gbs JUDGE Whether Speaking/Reasoned Yes/No Whether Reportable Yes/No GURBACHAN SINGH 2019.01.17 16:54 I attest to the accuracy and integrity of this document