On account of the first respondent’s liability under a security agreement, in terms of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, hereinafter, the “Act”, proceedings were initiated by the petitioner under Section 13 (2) of that Act on 19-10-2005. On 15-02-2006, the petitioner, the secured creditor, took what can be called “symbolic possession” of the property leaving the first respondent in defacto physical possession. On 21-03-2006, notice of such action was published. On 27-07-2006, the property was brought to sale. It was bid by a third party. That sale was confirmed on 03-03-2007. Sale certificate was issued in favour of the auction purchaser on 02-04-2007. Thereafter, the petitioner, the secured creditor moved Ext.P1 petition on 09-05-2007 before the Chief Judicial Magistrate under Section 14(1) of the Act. The Chief Judicial Magistrate issued the impugned Ext. P2 order holding that, going by the recitals in Ext. P1, the secured creditor, the writ petitioner, had already taken possession of the secured asset under the provisions of the Act and had sold the same. Taking the view that the provisions contain