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G. S. SANDHAWALIA, GURBIR SINGH
Kotak Mahindra Bank Limited – Appellant
Versus
District Magistrate Gurugram – Respondent
JUDGMENT
G.S. Sandhawalia, J. (Oral)
The present petition was filed for seeking physical possession of mortgaged property in a time bound manner keeping in view the order dated 20.11.2020 (Annexure P-2) passed under section 14 of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act,2002 (for short `the Act'), which was not executed in favour of the Bank. On 27.04.2023, the following order was passed:-
District Magistrate must execute possession orders under Section 14 of the Act within 30 days, extending up to 60 days only if reasons are recorded.
The jurisdiction of the CMM in deciding questions of tenancy or possession, the procedural nature of orders under Section 14, and the erroneous reliance on case law were central legal points establis....
A secured creditor retains rights over a property until actual possession is transferred, despite a sale certificate being issued to an auction buyer, as affirmed by the court.
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