Partly allowed

M/s.Iifl Home Finance Limited v. The Chief Judicial Magistrate

Madras HC16 Mar 2021WP/6782/2021

Case brief

AI extract

What is this about?

In a writ petition under Article 226, the Court directed the Chief Judicial Magistrate, Chengalpet, to expeditiously dispose of a request for executive assistance under Section 14 of the SARFAESI Act within three weeks, requiring a speaking order if assistance is denied.

What did the court decide?

Direction to the respondent to dispose of the Section 14 request expeditiously within three weeks and pass a speaking order if assistance is deemed unwarranted.

M/s.Iifl Home Finance Limited Vs The Chief Judicial… — Banking and Recovery | Madras HC (2021)

¶1

IN THE HIGH COURT OF JUDICATURE AT MADRAS

¶2

DATED: 16.03.2021

¶3

CORAM :

¶4

THE HON'BLE MR.SANJIB BANERJEE, CHIEF JUSTICE

¶5

AND

¶6

THE HON'BLE MR.JUSTICE SENTHILKUMAR RAMAMOORTHY

¶7

W.P.No.6782 of 2021 M/s. IIFL Home Finance Limited Formerly known as M/s. India Infoline Housing Finance Limited At No.12A-10, 13^th Floor, Parinee Crescenzo, C-38 and C-39, G.Block, Behind MCA, BandraKurla Complex, Bandra East, Mumbai – 400 051 And its Branch office at IIFL 9^th Floor, Bascon Futura, No.10/1, Venkatanarayanan Road, T.Nagar, Chennai – 600 017 Through its Authorized Officer, Mr.R.Frazer ... Petitioner -vsThe Chief Judicial Magistrate, Chengalpet District. ... Respondent

¶8

The Chief Judicial Magistrate, Chengalpet District.

¶9

Petition filed under Article 226 of the Constitution of India praying for issue of Writ of Mandamus directing the respondent to expeditiously dispose of the petition filed by the petitioner under Section 14 of the SARFAESI Act and received by the respondent on 07.01.2020 in Crl.M.P.No.292/2020 pending before the respondent.

¶10

For Petitioner : Mr.V.Balasubramani

¶11

https://hcservices.ecourts.gov.in/hcservices/

¶12

ORDER

¶13

(Order of the Court was made by The Hon'ble Chief Justice)

¶14

The petitioner, claiming to be a secured creditor within the meaning of such expression in the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, complains of the Chief Judicial Magistrate, Chengalpet sitting over a request made under Section 14 of the Act for executive assistance on January 7, 2020.

¶15

There is no doubt that the concerned official did not take steps over the last year or so in view of the initial lockdown and then the slow re-opening thereafter. However, the respondent is reminded that Section 14 of the Act of 2002 indicates a timeline within which executive assistance should be rendered to a secured creditor, subject to the relevant authority being satisfied on the basis of the declarations furnished by the secured creditor.

¶16

Though no adjudication is necessary at the stage of a Section 14 request, it is imperative that appropriate declarations as indicated in the provision are furnished for the relevant authority approached to be satisfied that the applicant before him is a secured creditor and qualifies to obtain the assistance under such provision.

¶17

W.P.No.6782 of 2021 is disposed of by directing the respondent to ensure that the request made under Section 14 of the said Act on January 7, 2020 is disposed of in accordance with law as expeditiously as possible and, preferably, within three weeks of the receipt of a copy of this order. If the respondent perceives that the petitioner herein does not qualify to receive any assistance, a speaking order in such regard should be passed within the same time. There will be no order as to costs.

¶18

Sd/Assistant Registrar(CS VI)

¶19

//True Copy//

¶20

Sub Assistant Registrar

¶21

https://hcservices.ecourts.gov.in/hcservices/

¶22

bbr

¶23

To:

¶24

The Chief Judicial Magistrate, Chengalpet District.

¶25

W.P.No.6782 of 2021

¶26

pmk[co] srg 26/03/2021

¶27

https://hcservices.ecourts.gov.in/hcservices/

M/s.Iifl Home Finance Limited v. The Chief Judicial Magistrate

Case brief

What is this about?

What did the court decide?

M/s.Iifl Home Finance Limited v. The Chief Judicial Magistrate

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

The District Educational Officer Vs G.Irudayamery

The Tamil Nadu Construction Workers Welfare Board Vs B Mohamed Ali

Chennai Metropolitan Water Supply and Sewage Board Vs M/S.Vatech Wabag Ltd.

K.N.Nehru Vs Chief Election Commissioner Election Commission of India

V.Jayabalan Vs Nb.Sabitha

J.Soundarrajan Vs State of Tamilnadu