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IN THE HIGH COURT OF JUDICATURE AT BOMBAY, NAGPUR BENCH, NAGPUR
URMILA JOSHI-PHALKE
Shubham Flour Mill – Appellant
Versus
State of Maharashtra – Respondent
JUDGMENT :
URMILA JOSHI-PHALKE, J.
1. Heard learned counsel appearing for respective parties. Admit. Heard finally by consent.
2. The present application is preferred by applicants for quashing and setting aside the impugned order dated 26.9.2025 passed below Exh.5 in Criminal Revision No.113/2025 passed by learned Additional Sessions Judge, Akola and order dated 30.8.2025 passed by learned Additional Chief Judicial Magistrate, Akola in Criminal Case No.326/2025.
3. The applicants are proprietary concern and doing its business at Akola. Non-applicant No.2 is a financial institution (the bank). The applicants have obtained financial assistance from the bank in the nature of Term Loan-1 of Rs.14,28,521.60; Term Loan-2 of Rs.56,45,974.25; CECLS-1 of Rs.25,00,000/-; CECLS-3 of Rs.52,50,000/-, and OCC of Rs.7,50,00,000/-. Against the said loans, towards security for repayments of these loans equitable mortgage in 4 immovable properties was executed in favour of the bank. Three properties, which are subject-matter of the instant proceedings, include one residential plot at Akola and one property which includes three plots at Akot and one industrial plot with constructed factory at Akot. Wher
Additional Chief Judicial Magistrate empowered equivalently to Chief Judicial Magistrate for SARFAESI Section 14 applications via appointment notifications; Section 482 CrPC petition not maintainable....
The powers under Section 14 of the SARFAESI Act are ministerial; prior notice to the borrower is not required. Remedies are limited to the Debt Recovery Tribunal following action under the Act.
The Additional Chief Metropolitan Magistrates and Additional District Magistrates can exercise the powers under Section 14 of the SARFAESI Act.
A District Magistrate's authority under the SARFAESI Act is administrative; subsequent orders can be made to modify the officer assigned for asset possession without it being deemed functus officio.
Possession of the secured asset can be taken by the secured creditor before confirmation of sale of the secured assets as well as post confirmation of sale.
The Court clarified the jurisdiction of the Chief Judicial Magistrate under Section 14 of the SARFAESI Act, holding that both the District Magistrate and Chief Judicial Magistrate have the jurisdicti....
The Chief Judicial Magistrate holds equivalent jurisdiction as the Chief Metropolitan Magistrate under the SARFAESI Act, permitting administrative orders for asset recovery.
The court clarified that the jurisdiction of the relevant Authority under Section 14 of the SARFAESI Act is limited to assisting a secured creditor in recovering possession of secured assets from a d....
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