IN THE HIGH COURT OF PUNJAB AND HARYANA

AT CHANDIGARH

Date of decision : 12.01.2026

JANA SMALL FINANCE BANK

…….Petitioner

Versus

STATE OF PUNJAB

...….Respondent

CORAM: HON'BLE MR. JUSTICE SHEEL NAGU, CHIEF JUSTICE

HON'BLE MS. JUSTICE NEERJA KULWANT KALSON

Present: Ms. Deepika Mittal, Advocate,

for the petitioner.

Mr. Sahil Sabhlok, Sr. DAG, Punjab (Through VC)

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SHEEL NAGU, CHIEF JUSTICE ( Oral )

1. The petitioner – bank is before this Court invoking writ as well as supervisory jurisdiction under Article 226/227 of the Constitution of India, being aggrieved by in-action on the part of Chief Judicial Magistrate, Ludhiana (respondent No.2) to decide the application (Annexure P-3) submitted by the petitioner u/s 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short,

‘SARFAESI Act’).

2. It is stated in the application (Annexure P-3) that respondents No.3 to 7 availed loan facility of Rs. 1,35,00,000/- from the petitioner, and upon default in repayment, the account was classified as Non-Performing Asset (NPA) on 01.05.2025, whereafter demand notice dated 24.05.2025

(Annexure P-1) u/s 13 (2) of the SARFAESI Act was duly served upon the