Punjab National Bank v. Chief Judicial Magistrate Amritsar And Others

CWP-6580 of 2026

IN THE HIGH COURT OF PUNJAB & HARYANA

AT CHANDIGARH CWP-6580 of 2026 Date of decision: 06.03.2026 PUNJAB NATIONAL BANK ....Petitioner V/S CHIEF JUDICIAL MAGISTRATE AMRITSAR AND OTHERS ... Respondents CORAM: HON'BLE MR. JUSTICE SHEEL NAGU, CHIEF JUSTICE HON'BLE MR. JUSTICE SANJIV BERRY, JUDGE

Present:

Mr. Kanwar Harbir Singh Bath, Advocate for the petitioner. **** SHEEL NAGU, CHIEF JUSTICE (Oral) 1.

The present writ petition has been filed by petitioner/Bank aggrieved by non-execution of the order dated 07.03.2025 (Annexure P-2) passed by the Chief Judicial Magistrate, Amritsar under the provisions of Section 14 Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act for brevity).

1.1 It is informed that no S.A. is pending before the Debts Recovery Tribunal or Debts Recovery Appellate Tribunal. 2.

It is rather surprising that Sh. A.K. Kondal, Advocate/Receiver, who was appointed by the Chief Judicial Magistrate, Amritsar vide order dated 07.03.2025, as well as the concerned Station House Officer i.e. respondents no. 2 and 3 have failed to discharge their statutory duty of assisting and handing over physical possession of the secured asset to the petitioner/Bank. 2.1 Non-Performing Assets (NPAs) are a huge burden on the public exchequer, banking and financial system, and, thus, prompt enforcement of recovery mechanism under the SARFAESI Act is paramount for liquidity in the system.

KAMAL GANDHI 2026.03.07 18:56 I attest to the accuracy and integrity of this document

CWP-6580 of 2026 3.

In view of the above, this court by way of writ of mandamus directs respondent nos. 2 and 3 to execute the order dated 07.03.2025 (Annexure P-2) 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. 4.

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-70182022 decided on 28.05.2024] be adhered to by the concerned authorities. 5.

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. 6.

Respondent no. 2 and 3 are 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.

7.

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.

(SHEEL NAGU) CHIEF JUSTICE (SANJIV BERRY) JUDGE 06.03.2026 Kamal Gandhi Whether speaking/reasoned Yes/No Whether reportable Yes/No KAMAL GANDHI 2026.03.07 18:56 I attest to the accuracy and integrity of this document