JUDGMENT

Rajiv Shakdher, J. (Oral) - CM APPL. 1852/2020 (Exemption)

1. Allowed, subject to just exceptions.

W.P.(C) 657/2020 & CM APPL. 1851/2020

2. Shorn of verbiage, the singular submission advanced on behalf of the petitioner is that the appointment of receiver by the Learned Chief Metropolitan Magistrate (in short "CMM") is contrary to the language of Section 14 (1A) [1] of The Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (in short "SARFAESI Act").

[1] 14. Chief Metropolitan Magistrate or District Magistrate to assist secured creditor in taking possession of secured asset. -

xxx xxx xxx

[(1A) The District Magistrate or the Chief Metropolitan Magistrate may authorize any officer subordinate to him, -

(i) To take possession of such assets and documents relating thereto; and

(ii) To forward such assets and documents to the secured creditor.]

3. In support of his plea, learned counsel for the petitioner relies upon the judgment of the Division Bench of the Bombay High Court dated 06.11.2019, passed in W.P. (C) No. 28480/2019, titled: Subir Chakravarty and Ors. vs. Kotak Mahindra Bank Ltd. (hereinafter referred to as "Subir Ch