India Shelter Finance Corporation Limited v. State Of Haryana And ORS
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In view of the above, this Court by way of writ of mandamus directs Respondents No. 2 and 3, District Magistrate,
Faridabad (Haryana) and Naib Tehsildar, cum-Executive Magistrate, Faridabad, District Faridabad, to execute the order dated 02.07.2024 (Annexure P-3) passed u/s 14 of SARFAESI Act by handing over physical possession of the secured asset to the petitioner Bank as expeditiously as possible, preferably, within a period of 30 days. The petitioner bank, thereafter, can proceed to adopt all possible legitimate means to liquidate the secured asset to recover the due amount. 7.
The petition for the time being stands disposed of in the terms aforesaid. Needless to say that the guidelines laid down by Coordinate Bench in Bank of Maharashtra Vs. District Magistrate, Hisar And Others [CWP-7018-2022 decided on 28.05.2024] be adhered to by the concerned authorities.
8.
We hasten to add that this order shall however be subject to any restraint/ interim/ final order which may have been passed by any judicial forum, in favour of the borrowers/ guarantor/ any aggrieved person, who is party to this lis.
9.
Respondent No. 3, Naib Tehsildar, cum-Executive Magistrate, Faridabad, District Faridabad, is directed to file a compliance report before the Registry of this Court within 45 days from the date of passing of this order. The Registry shall ensure that, in case any deficiency is found in the compliance report so filed, the matter be placed before the appropriate Bench on the judicial side under IOIN category.
10.
Needless to clarify that this order shall not come in way of any party aggrieved by any recourse/action taken under SARFAESI Act to avail appropriate remedy before DRT/DRAT as per law. ''
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