[Cites 6, Cited by 0]
Madhya Pradesh High Court
Varthana Finance Private Ltd.(Earlier ... vs The State Of Madhya Pradesh on 26 March, 2026
Author: Anand Pathak
Bench: Anand Pathak
NEUTRAL CITATION NO. 2026:MPHC-GWL:10396
1 WP-8135-2026
IN THE HIGH COURT OF MADHYA PRADESH
AT GWALIOR
BEFORE
HON'BLE SHRI JUSTICE ANAND PATHAK
&
HON'BLE SHRI JUSTICE PUSHPENDRA YADAV
ON THE 26th OF MARCH, 2026
WRIT PETITION No. 8135 of 2026
VARTHANA FINANCE PRIVATE LTD.(EARLIER KNOWN AS
THIRUMENI FINANCE PRIVATE LTD) THROUGH ITS AUTHORISED
Versus
THE STATE OF MADHYA PRADESH AND OTHERS
Appearance:
Shri Ajay Sharma - Advocate for the petitioner.
Shri Ravindra Dixit - Government Advocate for the respondents/State.
ORDER
Per: Justice Anand Pathak
The petitioner company has preferred the present petition under Article
226 of the Constitution of India seeking following reliefs:-
"i) That, the respondents No.2 & 3 may be directed to get
the possession delivered to the petitioner by acting upon the order
annexure P/1 in a stipulated time limit.
ii) any other relief deemed fit and expedient in the facts of
the case may also be granted to the petitioner.
2. Facts of the case are that petitioner/Varthana Finance Private Ltd.
has landed money/loan to the borrowers and they committed default in
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paying the same, therefore, proceedings under Securitization and
Reconstruction of Financial Assets and Enforcement of Security Interest Act,
2002 (For brevity "SARFAESI Act") were initiated against them. However,
as per Sections 13 & 14 of the SARFAESI Act, possession of the secured
assets has not been handed over.
3. At the out set, learned counsel for the petitioner referred the order
dated 27-02-2024 passed by the Coordinate Bench of this Court in a bunch of
writ petitions, in which Writ Petition No.2078 of 2023 (IIFL Home Finance
Ltd. Vs. The State of M.P. and Others)Vs. The State of M.P. and Others)
was the leading case and seeks parity. He prays that directions issued in
those bunch of petitions shall be issued in the present case also.
4. Learned counsel for the respondents/State fairly submits that
respondents shall proceed in accordance with law. However, he submits that
looking to the drive undertaken by Municipal Corporation, Gwalior for
Green Gwalior - Clean Gwalior under "Swaccha Bharat Mission", a fund has
been created in this regard. Therefore, if the petitioner also contributes
voluntarily, then it would be a welcome gesture on the part of the petitioner
company.
5. Considering the request, counsel for the petitioner company fairly
submits that he shall contribute its social obligation and undertakes to
deposit Rs.5,000/- (Rupees Five Thousand) voluntarily in the Account of
Nagar Nigam Gwalior (Swachhata Penalty Evam Garbage) bearing Account
No.4051626318 of Kotak Mahindra Bank, Branch Gwalior (IFSC Code :
KKBK0005927).
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6. Appreciating the gesture, petitioner is permitted to do so
voluntarily.
7. Heard.
8. In the case of IIFL Home Finance Ltd. (supra), certain directions
were given to the District Administration/Collector to ensure compliance of
provisions as contained in the SARFAESI Act. Those directions for ready
reference are reiterated as under:-
"1.(a) Petitioners, seeking completion of proceedings
and order to be passed under Section 14 of the
SARFAESI Act by the Collector, shall approach the
Collector with the order passed today to complete the
proceedings expeditiously and pass order under Section
14 of the SARFAESI Act as well as for timely
execution of the order.
1.(b) The Collector shall pass the order under Section
14 of the SARFAESI Act as early as possible preferably
within four weeks from the date of submission of
certified copy of this order. Thereafter, the Collector
shall ensure execution of the order in a time bound
programme as directed by the Divisional
Commissioner.
2.(a) Petitioners, seeking execution of the order passed
under Section 14 of the SARFAESI Act by the
respective Collector, shall approach the Collector with
the order passed today for timely execution of the order
passed under Section 14 of the SARFAESI Act.
2.(b) The concerned Collector shall adhere to a time
bound schedule for expeditious execution of the order
passed under Section 14 of the SARFAESI Act.
3. In all such cases, where DRT has passed interim
orders against proceedings initiate under Section 13(2)
and/ or 13(4) of the SARFAESI Act, the Collector shall
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defer action under Section 14 of the SARFAESI Act till
such interim orders are modified or vacated facilitating
completion of proceedings under Section 14 of the
SARFAESI Act or the execution of orders passed under
Section 14 of the SARFAESI Act."
9 . Considering the submissions advanced, this writ petition is
disposed of with a direction to the District Administration/Collector to
ensure compliance of the directions as issued in the earlier bunch of writ
petitions referred above and do the needful as sought by the
petitioner/Varthana Finance Private Ltd. in accordance with law.
10. Looking to the fact that the order was passed by Chief Judicial
Magistrate, Bhind on 13.8.2025 and concerned Tahsildar had to comply the
said order without fail on an urgent note, but he failed to do so. Therefore, he
is directed to do the needful within one month to avoid any adversity.
11. With the aforesaid, the writ petition stands disposed of.
(ANAND PATHAK) (PUSHPENDRA YADAV)
JUDGE JUDGE
(alok)
