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ANOOP KUMAR DHAND
Jammu and Kashmir Bank Limited – Appellant
Versus
Trunks and Roots – Respondent
ORDER :
Anoop Kumar Dhand, J.
By way of filing this writ petition, the petitioner has assailed the order dated 09.01.2023 passed by the learned District Magistrate, Jaipur by which the application filed by the petitioner under section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short 'the SARFAESI Act of 2002') has been rejected.
2. By passing the impugned order dated 09.01.2023, the District Magistrate, Jaipur has observed in the order impugned that no document has been produced and annexed with the application filed by the petitioner under Section 14 of the SARFAESI Act of 2002 with regard to the fact that whether the agricultural land was mortgaged or not and the DLC rates of the sanctioned land were not submitted. While rejecting the application filed by the petitioner, a liberty was granted to the petitioner to file fresh application with appropriate documents.
3. Counsel for the petitioner submits that the learned Magistrate has failed to peruse the provisions contained under Section 14 of the SARFAESI Act of 2002. Counsel submits that while deciding the application under Section 14 of the SARFAESI Act of 200
The District Magistrate's role under Section 14 of the SARFAESI Act is ministerial, requiring prompt action without adjudicating disputes between parties.
(1) Possession of secured asset – Powers exercisable by CMM/DM under Section 14 of SARFAESI Act are ministerial step – Section 14 of SARFAESI Act does not involve any adjudicatory process qua points ....
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.
District Magistrate's role under S.14 of the SARFAESI Act is purely administrative with no adjudicatory powers, upholding the law's constitutionality and confirming the permissibility of judicial rev....
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.
Point of Law : Nature of powers to be exercised by learned Chief Metropolitan Magistrate/learned District Magistrate, High Court in impugned judgment and order has rightly observed and held that powe....
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....
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