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RAJAN ROY, MANISH KUMAR
Hindustan Petroleum Corporation Ltd. Thru. Its Chief Manager – Appellant
Versus
Union Of India Thru. Ministry Of Finance Banking Division Deptt. Of Financial Services – Respondent
JUDGMENT :
Rajan Roy, J.
1. Heard Ms. Aprajita Bansal, learned counsel for the petitioner, learned Additional Chief Standing Counsel for the State and learned Alok Saxena, learned counsel for the opposite party no. 4.
2. By means of this writ petition the petitioner-Hindustan Petroleum Corporation Ltd. has challenged an order dated 09.08.2021 passed by the District Magistrate, Sitapur in Case No. 00745 of 2021; State Bank of India Vs. M/s Shiv Geet Sales Pvt. Ltd. under Section 14 of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as 'the SARFAESI Act, 2002').
3. The contention of the petitioner's counsel in nutshell was that the petitioner was the lessee of the secured asset and that a lease was executed by the borrower in favour of the petitioner much prior to mortgage of the said property by him with the opposite party No. 4-Bank. The lease being registered and the same not having been determined as per the provisions of Section 111 of the Transfer of Property Act, 1882, the Bank erred in proceeding under Section under Section 13 of the SARFAESI Act, 2002 in respect of the said asset and the District Magis
Point of Law : Nature of powers to be exercised by learned Chief Metropolitan Magistrate/learned District Magistrate, High Court in impugned judgment and order has rightly observed and held that powe....
(1) Possession of secured asset – Powers exercisable by CMM/DM under Section 14 of SARFAESI Act are ministerial step – Section 14 of SARFAESI Act does not involve any adjudicatory process qua points ....
The District Magistrate's role under Section 14 of the SARFAESI Act is ministerial, requiring prompt action without adjudicating disputes between parties.
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 powers under Section 14 of the SARFAESI Act are ministerial; prior notice to the borrower is not required. Remedies are limited to the Debt Recovery Tribunal following action under the Act.
The court clarified that the jurisdiction of the relevant Authority under Section 14 of the SARFAESI Act is limited to assisting a secured creditor in recovering possession of secured assets from a d....
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