Allahabad Bank, Rep. by its Branch Manager v. District Magistrate cum Collector
2016-02-04
S.MANIKUMAR, SATISH K.AGNIHOTRI
body2016
DigiLaw.ai
ORDER : 1. Notice to the second and the third respondents is dispensed with at this stage since no order prejudicial to their interest is passed in this Writ Petition. Thus, with the consent of the learned counsel for the petitioner and the learned Special Government Pleader appearing for the first respondent, the writ petition is taken up for final disposal. 2. The grievance of the petitioner is that the petitioner had filed a petition on 18 March 2015 under the provisions of Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short "the SARFAESI Act") seeking assistance of the first respondent to take over possession of the secured asset in furtherance of exercise under Section 13(4) of the SARFAESI Act. However, the first respondent has not taken any step so far, when the object of the said provision is to extend assistance to secure possession of the secured asset, at the earliest. 3. The learned Special Government Pleader appearing for the first respondent submits that a direction to that effect may be issued to the first respondent. 4. Accordingly, without expressing any opinion on the merits of the case, we direct the first respondent to take up the matter and decide the same in accordance with law and on its own merits as expeditiously as possible, preferably, within a period of eight weeks from the date of receipt of a copy of this order. The first respondent is also directed to verify as to whether there is any tenancy or lease in respect of the secured asset and if it is so, the same has to be considered in the light of the judgment of the Supreme Court in Harshad Govardhan Sondagar vs. International Assets Reconstruction Company Limited and Others. 5. The writ petition stands disposed of with the above directions. No costs.