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IN THE HIGH COURT OF HIMACHAL PRADESH, SHIMLA
RAKESH KAINTHLA
Santosh Kumar – Appellant
Versus
Piramal Capital and Housing – Respondent
| Table of Content |
|---|
| 1. overview of the petition and background facts (Para 1 , 2) |
| 2. arguments from both parties regarding notice and jurisdiction (Para 6 , 7) |
| 3. assessment of jurisdiction and proper remedies under sarfaesi act (Para 8 , 9 , 10 , 11) |
| 4. court's interpretation of the sarfaesi act concerning natural justice (Para 12 , 13 , 14 , 15) |
| 5. conclusion affirming dismissal of the petition (Para 16 , 18) |
JUDGMENT :
Rakesh Kainthla, J.
The petitioner has filed the present petition for quashing the order dated 25.04.2024 passed by learned Additional Chief Judicial Magistrate (ACJM), Court No.2, Shimla, H.P., vide which the application filed by the respondent under Section 14 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI Act) was allowed.
2. It has been asserted that the respondent/creditor filed an application seeking a direction to SHO to help the authorized ofÏcer to take possession of the secured asset. It was asserted that petitioners No.1 and 2 availed housing loan/non-housing loan credit facility of Rs.20,95,001/- against the security of the premises with an undertaking to repay the same as per the terms of the loan
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