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N. KOTISWAR SINGH, MOKSHA KHAJURIA KAZMI
Ablum Electrical Industries (M/s) – Appellant
Versus
Authorised Officer, Cluster Head, J&K Bank, Pulwama – Respondent
JUDGEMENT
N. Kotiswar Singh, CJ.
1. The writ petition involves a seminal question of law as to whether this Court in exercise of the writ jurisdiction under Article 226 of the Constitution of India can intervene in a proceeding challenging an order passed by the Chief Judicial Magistrate under section 14 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002, (for short SARFAESI Act).
Background
2. An order was passed on 30.05.2023 by the Chief Judicial Magistrate, Budgam under section 14 of the SARFAESI Act at the instance of the respondent J&K Bank, by which the Sub Divisional Magistrate, Chandoora, was authorised to take possession of the mortgaged properties of the petitioner firm.
3. The legal contestation embarked upon by the petitioner is primarily based on the ground that mandatory provisions under section 13(3-A) read with Section 14 of the SARFAESI Act had not been complied with by the respondent Bank at the time of filing the application by the Bank seeking assistance of the Bank under section 14 of the Act, on the basis of which the Chief Judicial Magistrate (CJM) passed the impugned order under section 14.
It has been sub
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 District Magistrate's jurisdiction under Section 14 of the SARFAESI Act is limited to ascertaining whether the statements required by the secured creditor in its affidavit have been made. The Dis....
The court affirmed that aggrieved parties under the SARFAESI Act must approach the Debts Recovery Tribunal for relief, emphasizing the importance of alternative remedies.
The powers of a Magistrate under Section 14 of the SARFAESI Act are strictly ministerial and do not permit adjudication of third-party claims on secured assets.
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....
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