Rachna Mahawar vs. The District Magistrate and others

SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS ANDENFORCEMENT OF SECURITY INTEREST ACT, 2002

Section 14 .. .. - Chief Metropolitan Magistrate or District Magistrate to assist secured creditor in taking possession of secured asset

Tags Debt

Madhya Pradesh High Court (Division Bench (DB)- Two Judge)

WRIT PETITION, 5877 of 2021, Judgment Date: Apr 01, 2021

Law laid down -

The power under Section 14 of the Securitisation Act can be exercised by the Additional District Magistrate also. The nature of power exercisable under Section 14 of the Act is to facilitate taking over of possession of secured assets and not to decide any contentious issue. Section 37 of the Act specifically provides that application of any other law for the time being in force is not barred. Section 20 of the Cr.P.C. reflects that the Additional District Magistrate also exercises the same power as the District Magistrate as per direction of the State Government. Supreme Court in the matter of Authorised Officer, Indian Bank Vs. D. Visalakshi and another, (2019) 20 SCC 47 has already settled that an expansive meaning is to be given to the authority mentioned in Section 14 of the Act. Hence, the Additional District Magistrate is competent to exercise the power under Section 14 of the Act.

Rachna Mahawar vs. The District Magistrate and others

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