ORDER

This Writ Petition is filed to declare the action of respondent No.3 in not registering the instrument bearing P.No.15 of 2023, as illegal and arbitrary and further direct respondent No.3 to register the Agreement dated 16.12.2022.

2. The brief facts of the case are that the petitioner is a Company incorporated under the Companies Act, 2013 and registered as an Asset Reconstruction Company in terms of Section 3 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short ‘the SARFAESI Act’) and registered with the Reserve Bank of India.

3. It is submitted that the petitioner is acting in its capacity as Trustee of JCF YES Trust 2022-23/18. It is further submitted that the petitioner and Yes Bank Limited who have entered into an Assignment Agreement on 16-12-2022 (hereinafter referred to as ‘Agreement’) as per the provisions of Section 5 of the SARFAESI Act whereby Yes Bank Limited had assigned the financial assets viz. the loans disbursed under the financing documents together with all its rights, title and interest in the financing documents and any underlying interests, pledges, guarantees in respect of such loans to