Punjab National Bank vs State Of U.P. And 7 Others
2023 Latest Caselaw 22433 ALL

Citation : 2023 Latest Caselaw 22433 ALL
Judgement Date : 18 August, 2023

Allahabad High Court

Punjab National Bank vs State Of U.P. And 7 Others on 18 August, 2023

Bench: Ashwani Kumar Mishra, Syed Aftab Rizvi





HIGH COURT OF JUDICATURE AT ALLAHABAD
 
 


?Neutral Citation No. - 2023:AHC:167187-DB
 
Court No. - 46
 
Case :- WRIT - C No. - 27734 of 2023
 
Petitioner :- Punjab National Bank
 
Respondent :- State Of U.P. And 7 Others
 
Counsel for Petitioner :- Sanjai Singh
 
Counsel for Respondent :- C.S.C.
 
Hon'ble Ashwani Kumar Mishra,J.

Hon'ble Syed Aftab Husain Rizvi,J.

The instant petition has been filed praying for a writ of mandamus commanding respondent no.2 to decide application dated 15.02.2023 bearing Case No.D2021312610000460 of 2023 under Section 14 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 within a specified time frame.

The petitioner is a secured creditor. It has filed the above application for taking possession of the secured asset that was mortgaged in its favour by the respondent-borrowers while taking loan from the Bank. The application is pending since 15.02.2023. It is urged by learned counsel for the petitioner that there is no impediment in deciding the application inasmuch as the borrowers have not even challenged the measures taken by the respondent-Bank under Section 13 (4) of the Act before any court, authority or tribunal. It is further submitted that in view of the third proviso to sub-section (1) of Section 14 of the Act, the application should have been decided within a period of 30 days and which period can be extended to a maximum period of 60 days for reasons to be recorded in writing. Reliance is placed upon a judgment of this Court in Shipra Hotel Ltd. & Anr. Vs. State of UP & Ors. reported in 2022 0 Supreme(All) 1311.

Learned standing counsel appearing for the State respondents is not in a position to dispute the submissions made by learned counsel for the petitioner.

Having regard to the mandate of law as contained in third proviso to sub-section (1) of Section 14 of the Act, we dispose of the instant petition with direction to respondent no.2 to make all endeavour to decide the application expeditiously, preferably within six weeks from the date of production of a true attested copy of the instant order.

Order Date :- 18.8.2023/RA