IN THE HIGH COURT OF PUNJAB AND HARYANA AT

CHANDIGARH

CWP-435-2022

Reserved on: 20.07.2022

Date of Decision:03.08.2022

Kotak Mahindra Bank Ltd.

. . . . Petitioner

Vs.

The District Magistrate and another

. . . . Respondents

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CORAM:

HON9BLE MR JUSTICE M.S. RAMACHANDRA RAO

HON9BLE MR JUSTICE H.S. MADAAN

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Present: -

Mr.Manish Jain, Advocate, Mr. Mayur Kanwar, Advocate, and

Mr.Siddhant Jain, Advocate, for the petitioner.

Mr.Vaibhav Sharma, Advocate, for respondents No.2(ii) & 2(iv).

Mr.Sandeep Vermani, Addl. A.G., Punjab.

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M.S. RAMACHANDRA RAO, J.

Backgrounds of the case

This Writ Petition is filed by the petitioner-Bank to quash the

order dt.15.12.2021 passed by the District Magistrate, Ludhiana ( respondent

No.1) rejecting petitioner9s request to pass orders under Section 14 of the

Securitisation and Reconstruction of Financial Assets and Enforcement of

Security Interest Act, 2002 [for short 8the SARFAESI Act9] for delivery of

possession of a secured asset owned by respondent No.2 and also mortgaged

by him to the petitioner-Bank.

M/s Oswal Spinning and Weaving