Getwell Medicine and Ors. Vs Idfc First Bank… — Banking and Recovery | Punjab & Haryana HC (2026)

Getwell Medicine and Ors. Vs Idfc First Bank… — Banking and Recovery | Punjab & Haryana HC (2026)

What the court decided

AI extract

Outcome

Petition disposed of: if settlement does not materialise within 30 days, respondent-Bank free to liquidate secured assets and recover dues in accordance with law; petitioner at liberty to challenge the 09.06.2022 Section 14 SARFAESI order before the Debts Recovery Tribunal under Section 17; pending applications disposed of.

Issue for consideration

Whether the challenge to the order dated 09.06.2022 passed under Section 14 of the SARFAESI Act by the Additional District Magistrate, Patiala should be adjudicated or the petition disposed of in view of the ongoing settlement process between the parties.

Court's answer

The petition is disposed of with a direction that if the settlement does not materialise within 30 days from the date of the order, the respondent-Bank shall be at liberty to liquidate the secured assets and recover its dues in accordance with law.

Ratio / Principle

The petitioner remains at liberty to challenge the order dated 09.06.2022 passed under Section 14 of the SARFAESI Act.

Key takeaways

Any such challenge to the Section 14 order lies before the Debts Recovery Tribunal under Section 17 of the SARFAESI Act.ratio¶22
All pending application(s), if any, also stand disposed of.ratio¶23

Detailed headnote1 paragraphs

Punjab & Haryana High Court (CWP-16934 of 2022 (O&M), decided 29.01.2026; Sheel Nagu, CJ and Sanjiv Berry, J): Writ petition by Getwell Medicine and Ors challenging the order dated 09.06.2022 of the Additional District Magistrate, Patiala passed under Section 14 of the SARFAESI Act against IDFC First Bank Ltd was disposed of in view of an ongoing loan-settlement process not denied by the Bank. Direction issued that failing settlement within 30 days, the Bank is at liberty to liquidate the secured assets and recover its dues in accordance with law. The petitioner was expressly left at liberty to challenge the Section 14 order before the Debts Recovery Tribunal under Section 17 of the SARFAESI Act. All pending applications were disposed of.

1

CWP-16934 of 2022 (O&M)

IN THE HIGH COURT OF PUNJAB & HARYANA AT CHANDIGARH

CWP-16934 of 2022(O&M) Date of decision: 29.01.2026

GETWELL MEDICINE AND ORS

….Petitioners

V/S

IDFC FIRST BANK LTD

… Respondents

CORAM: HON’BLE MR. JUSTICE SHEEL NAGU, CHIEF JUSTICE HON’BLE MR. JUSTICE SANJIV BERRY, JUDGE

Present: Mr. Mayur Singla, Advocate (Arguing Counsel) Mr. Abhivadya Sood, Advocate for the petitioner.

Ms. Divya Arora, Advocate for Mr. Aditya Grover, Advocate for respondent/Bank.

SHEEL NAGU, CHIEF JUSTICE (Oral)

Challenge in the present petition is to the order dated 09.06.2022 passed u/s 14 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short ‘SARFAESI Act’) by the Additional District Magistrate, Patiala.

Learned counsel for petitioner submits that the settlement process for closure of the loan account is under consideration, which fact is not denied by learned counsel for the respondent-Bank.

This Court, therefore, disposes of the present petition with a direction that in case the settlement does not materialise within a period of 30 days from the date of passing of this order, respondent-Bank shall be at liberty to liquidate the secured assets and recover its dues in accordance with law.

The petitioner shall, however, be at liberty to challenge the order dated 09.06.2022 passed u/s 14 of the SARFAESI Act by the Additional District

KAMAL GANDHI 2026.01.30 15:46 I attest to the accuracy and integrity of this document

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CWP-16934 of 2022 (O&M)

Magistrate, Patiala before the Debts Recovery Tribunal u/s 17 of the SARFAESI Act.

All pending application(s), if any, also stand disposed of.

(SHEEL NAGU) CHIEF JUSTICE

(SANJIV BERRY) JUDGE

29.01.2026

Kamal Gandhi

Whether speaking/reasoned Yes/No Whether reportable Yes/No

KAMAL GANDHI 2026.01.30 15:46 I attest to the accuracy and integrity of this document