S.MANIKUMAR, SUBRAMONIUM PRASAD
State Bank of India, Stressed Assets Management Branch – Appellant
Versus
District Collector, District Magistrate – Respondent
1. Instant writ petition filed by the State Bank of India is directed against the order dated 13.03.2018 passed by the District Magistrate and District Collector, Tirupur District in K.Dis.3330/2017/C3 dated 13.03.2018. The District Magistrate by the order impugned herein has refused to take physical possession of two properties in proceedings initiated by the petitioner under Section 14 of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, herein after called as SARFAESI Act, on the ground that property in S.F.No. 886/1 & 882/2 of Chinnaputhur Village is an agriculture land and is therefore outside the ambit of SARFAESI Act and property in S.F.No.119/5 and 120 (Patta No.2110 & 2111) of Karaiputhur Village, Palladam Taluk belongs to 19 people including the guarantor and is not sub-divided and the boundaries cannot be identified.
2. M/s.Balu Spinning Mills Pvt. Ltd., herein after called as the Borrower availed credit facility to the tune of Rs.113.58 crores from the petitioner, State Bank of India. The respondents 2 to 6 stood as guarantors for repayment of the loan. Borrower committed default in repayment of dues and the peti
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