THE HONOURABLE Dr. JUSTICE G.RADHA RANI CRIMINAL REVISION CASE No.240 OF 2024

ORDER

This Criminal Revision Case is filed by the petitioner/complainant aggrieved by the docket endorsement dated 06.07.2023 in Crl.M.P.(SR) No.677 of 2023 in Crl.M.P.No.110 of 2023 on the file of the learned Chief Metropolitan Magistrate, Ranga Reddy District, at L.B.Nagar.

2. Heard learned counsel for the petitioner.

3. Learned counsel for the petitioner submitted that Crl.M.P.No.110 of 2023 was filed by the petitioner-IDBI Bank under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short ‘the SARFAESI Act, 2002’) seeking appointment of Advocate Commissioner for taking physical possession of the hypothecated movable assets and the same was allowed on 09.03.2023. The Advocate Commissioner was appointed and he was directed to take physical possession of the hypothecated movable assets. As there was an ambiguity with regard to 15 days prior notice to be issued, the Advocate Commissioner sought clarification and extension of time for executing the warrant by modifying the same through Crl.M.P.(SR) No.677 of 2023. The Office of Chief Metropolitan Magistrate had erroneously returned the said petition on unwarranted grounds for compliance, defeating the object of Section 14 of the SARFAESI Act, 2002. The impugned order of return resulted in miscarriage of justice and prayed to set aside the docket order dated 06.07.2023 in Crl.M.P.(SR) No.677 of 2023 in Crl.M.P.No.110 of 2023 on the file of the Chief Metropolitan Magistrate, Ranga Reddy District, at L.B.Nagar.

4. Perused the record.

5. The record would disclose that the petitioner was IDBI Bank Limited represented by its authorized officer and the petitioner filed a petition under Section 14 of the SARFAESI Act, 2002, seeking appointment of Advocate Commissioner for taking physical possession of hypothecated movable assets in Plot Nos.3 and 4 in Sy.Nos.219 and 220, Chakra Enclave, Hayath Nagar, Ranga Reddy District. The details of movable assets were mentioned in the petition.

6. Section 14 of the SARFAESI Act, 2002 reads as follows:

14. Chief Metropolitan Magistrate or District Magistrate to assist secured creditor in taking possession of secured asset.—(1) Where the possession of any secured asset is required to be taken by the secured creditor or if any of the secured asset is required to be sold or transferred by the secured creditor under the provisions of this Act, the secured creditor may, for the purpose of taking possession or control of any such secured asset, request, in writing, the Chief Metropolitan Magistrate or the District Magistrate within whose jurisdiction any such secured asset or other documents relating thereto may be situated or found, to take possession thereof, and the Chief Metropolitan Magistrate or, as the case may be, the District Magistrate shall, on such request being made to him—

(a) take possession of such asset and documents relating thereto;

and (b) forward such assets and documents to the secured creditor:

[Provided that any application by the secured creditor shall be accompanied by an affidavit duly affirmed by the authorised officer of the secured creditor, declaring that—

(i) the aggregate amount of financial assistance granted and the total claim of the Bank as on the date of filing the application;

(ii) the borrower has created security interest over various properties and that the Bank or Financial Institution is holding a valid and subsisting security interest over such properties and the claim of the Bank or Financial Institution is within the limitation period;

(iii) the borrower has created security interest over various properties giving the details of properties referred to in sub-

clause (ii) above;

(iv) the borrower has committed default in repayment of the financial assistance granted aggregating the specified amount;

(v) consequent upon such default in repayment of the financial assistance th