Iifl Home Finance Ltd v. The State Of Maharashtra Throu. Govt Pleader And ORS

27_WP17218_25.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

CIVIL APPELLATE JURISDICTION WRIT PETITION NO.17218 OF 2025 IIFL Home Finance Limited ...

Petitioner Vs.

State of Maharashtra and others ...

Respondents Mr. Mangesh M. Deshmukh for Petitioner.

Mr. O. A. Chandurkar, Additional GP with Mr. A. A. Alaspurkar, AGP with Ms.G. R. Raghuwanshi, AGP with Ms. Tanu N. Bhatia, AGP and Mr. M. M. Pable, AGP for Respondents-State.

CORAM : MANISH PITALE & SHREERAM V. SHIRSAT, JJ.

DATE : MARCH 16, 2026 P.C. :

.

The petitioner is a secured creditor and it is constrained to approach this Court in the light of the fact that an order passed by the concerned Magistrate as far back as on 12.03.2025 under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (Seuritisation Act) could not be executed till date. It is stated that although the respondent Nayab Tahsildar has fixed dates for taking physical possession, the directions could not be executed.

2.

We are of the opinion that such orders passed by the Magistrates in the context of secured assets ought to be executed expeditiously, otherwise the object and purpose of the Securitisation Act would itself stand frustrated.

3.

The State authorities are supposed to give appropriate help and MINAL SANDIP PARAB by MINAL SANDIP PARAB Date: 2026.03.16 18:05:41 +0530 assistance to the secured creditor so that possession of the secured asset 1/2

27_WP17218_25.doc is taken promptly.

4.

In view of the above, we direct the respondent Nayab Tahsildar, Taluka Indapur, District Pune to fix the date for taking physical possession of the secured asset as 07.04.2026 and issue notices accordingly.

5.

The Senior Inspector, Indapur Police Station, District Pune is directed to provide adequate police assistance, including lady constables to the said respondent Nayab Tahsildar for taking physical possession of the secured asset on the said date i.e. 07.04.2026. 6.

The police team accompanying the respondent Nayab Tahsildar shall use reasonable and necessary force, if required, for taking physical possession of the secured asset.

7.

In the event the direction given hereinabove is not complied with, the respondent Nayab Tahsildar, Taluka Indapur, District Pune and the Senior Inspector, Indapur Police Station, District Pune shall remain personally present in this Court on the next date of hearing. 8.

List for compliance on 10.04.2026.

(SHREERAM V. SHIRSAT, J.) (MANISH PITALE, J.) Minal Parab 2/2