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LISA GILL, MANJARI NEHRU KAUL
Canara Bank – Appellant
Versus
State of Haryana – Respondent
| Table of Content |
|---|
| 1. review of prior order and applications. (Para 1) |
| 2. arguments on clean hands and existing proceedings. (Para 2) |
| 3. analysis of sarfaesi act and judicial reasoning. (Para 3) |
| 4. no prejudice caused; hearing offered. (Para 4) |
| 5. application for review dismissed. (Para 5 , 6) |
JUDGMENT
Lisa Gill, J.
The applicant/respondent no.4 seeks review of order dated 15.11.2018, whereby the writ petition filed by the petitioner - Canara Bank was disposed of without any expression of opinion on the merits of the case while directing respondent no.2 to take a decision on the application dated 06.07.2018 (Annexure P-2), in accordance with law, by passing a speaking order and after affording an opportunity of hearing to the concerned parties within a period of two months from the date of receipt of certified copy of order. Prayer in the writ petition was for directing respondent no.2 to decide application dated 06.07.2018, filed by the Bank under Section 14 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.
2. Ground raised by learned counsel for respondent no.4 is that the petitioner-bank did not approach this Court with clean ha
The main legal point established in the judgment is the proper application of Section 14 of the SARFAESI Act, including the requirements for the application, consideration of borrower's representatio....
Section 14 of the SARFAESI Act, 2002 mandates the District Collector to pass necessary orders within 30 days from the date of application by the secured creditor.
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.
The SARFAESI Act provides a specific framework for securitization and enforcement of security interest, and parties must adhere to its provisions. The jurisdiction of the Debts Recovery Tribunal and ....
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