IN THE HIGH COURT OF PUNJAB & HARYANA AT CHANDIGARH Date of decision: 20.01.2026 Vastu Housing Finance Corporation ….Petitioner.

Versus State of Punjab and ors ....Respondents. CORAM: HON’BLE MR. JUSTICE SHEEL NAGU, CHIEF JUSTICE HON’BLE MR. JUSTICE SANJIV BERRY, JUDGE Present:- Mr. S. K. Bishnoi, Advocate, for the petitioner.

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SHEEL NAGU, CHIEF JUSTICE (Oral)

1. The petitioner-financial institution is before this Court invoking writ as well as supervisory jurisdiction under Article 226/227 Constitution of India, being aggrieved by in-action on the part of Chief Judicial Magistrate, Ludhiana, to decide the application (CRM-2468-2025) submitted by petitioner u/s 14 of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short the SARFAESI Act) which is pending since

22.05.2025.

1.1 It is submitted that no SA is pending before the Debt Recovery Appellate Tribunal and Debt Recovery Tribunal.

2. It is stated in the application that the respondent- borrower(s) availed a loan facility of Rs. 80,000/- from the applicant/financial institution, and upon default in repayment, the account was classified as Non-Performing Asset (NPA) whereafter