SANJAY YADAV
Shyam Sunder Rohra – Appellant
Versus
Indus Ind Bank – Respondent
1. Petitioner takes exception to order dated 23.4.2010; whereby, the Chief Judicial Magistrate has taken cognizance of an application under section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as 'the Act of 2002').
2. It is urged that section 14 of the Act of 2002 empowers only the Chief Metropolitan Magistrate and the District magistrate to take cognizance of an application, it is beyond the jurisdiction of the Chief Judicial Magistrate to entertain the application. It is further contended that the judgment by the Division Bench of Kerala High Court in Muhammed Ashraf v.Union of India [AIR 2009 Ker. 14], on the basis whereof the Chief Judicial Magistrate has entertained the application has been distinguished by the Full Bench of Madras High Court in K.Arockiyaraj v. Chief Judicial Magistrate, Srivilliputhur [AIR 2013 Madras 206], section 14 of the Act of 2002 provides for :
“14. Chief Metropolitan Magistrate or District Magistrate to assist secured creditor in taking possession of secured asset.-
(1) Where the possession of any secured assets is required to be taken by the secured
Login now and unlock free premium legal research
Login to SupremeToday AI and access free legal analysis, AI highlights, and smart tools.
Login
now!
India’s Legal research and Law Firm App, Download now!
Copyright © 2023 Vikas Info Solution Pvt Ltd. All Rights Reserved.