Madras High Court
M/S.Iifl Home Finance Limited vs The Chief Metropolitan Magistrate on 7 January, 2021
Author: M.Sathyanarayanan
Bench: M.Sathyanarayanan
WP.No.177/2021
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED 07.01.2021
CORAM
THE HONOURABLE MR. JUSTICE M.SATHYANARAYANAN
AND
THE HONOURABLE MR. JUSTICE A.A.NAKKIRAN
WP.No.177/2021
[Video Conferencing]
M/s.IIFL Home Finance Limited
Formerly known as
M/s.India Infoline Housing Finance Limited
At.No.12A-10, 13th Floor, Parinee
Crescenzo, C38, and C39, G Block,
Behind MCA, Bandrakurla Complex
Bandra East, Mumbai 400 051.
and its Branch Office at
IIFL 9th Floor, Bascon Futura,
No.10/1, Venatanarayanan Road,
T.Nagar, Chennai 600 017.
Through its Authorised Offier
R.Frazer .. Petitioner
Versus
The Chief Metropolitan Magistrate,
Egmore, Chennai. .. Respondent
https://www.mhc.tn.gov.in/judis/
1
WP.No.177/2021
Prayer:- Writ petition filed under Article 226 of the Constitution of
India praying for issuance of a 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 04.01.2020 in Crl.MP.No.7232/2020 pending before the respondent.
For Petitioner : Mr.V.Balasubramani
For Respondent : No appearance
ORDER
[Order of the Court was made by M.SATHYANARAYANAN, J.] (1)The petitioner-Financial Institution granted financial assistance to the borrower, viz., Thiru.S.Charles, and his wife, being the co-borrower, has also agreed to fulfill the terms of the sanction of the financial assistance. In lieu of the defaults committed, the asset has been declared as Non Performing Asset and a Notice under Section 13[2] of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 [in short ''SARFAESI Act''] dated 13.02.2019, was issued to the borrower as well as the co- borrower and it was also followed by the Possession Notice under https://www.mhc.tn.gov.in/judis/ 2 WP.No.177/2021 Section 13[4] of the SARFAESI Act dated 14.05.2019 and the notices u/s.13[2] as well as 13[4] were also published in the News Dailies and despite that, the borrowers did not make any payment towards the dues. The petitioner-Financial Institution, in order to take actual physical possession of the said asset, has filed an application/petition dated 04.01.2020 before the 1st respondent and the same has been entertained and numbered as Crl.MP.No.7232/2020. (2)The learned counsel for the petitioner would submit that despite a lapse of one year, orders are yet to be passed and hence, the petitioner is constrained to approach this Court by filing the present writ petition. (3)This Court has considered the arguments advanced by the learned counsel for the petitioner and also perused the materials placed before it.
(4)This Court, taking into consideration, the limited scope of prayer sought for by the petitioner in this writ petition and without going into the merits of the claim projected by the petitioner, either in the petition/application dated 04.01.2020 in Crl.MP.No.7232/2020, directs https://www.mhc.tn.gov.in/judis/ 3 WP.No.177/2021 the respondent to accord priority and dispose of the same in accordance with law as expeditiously as possible and not later than eight weeks from the date of receipt of a copy of this order / uploading of the order in the website and communicate the decision taken, to the petitioner-Institution.
(5)The writ petition stands disposed of accordingly. No costs.
[MSNJ] [AANJ]
07.01.2021
AP
Internet:Yes
To
1.The Chief Metropolitan Magistrate, Egmore, Chennai.
2.The Authorised Officer M/s.IIFL Home Finance Limited Formerly known as M/s.India Infoline Housing Finance Limited At.No.12A-10, 13th Floor, Parinee Crescenzo, C38, and C39, G Block, Behind MCA, Bandrakurla Complex Bandra East, Mumbai 400 051.
and its Branch Office at IIFL 9th Floor, Bascon Futura, No.10/1, Venatanarayanan Road, T.Nagar, Chennai 600 017.
https://www.mhc.tn.gov.in/judis/ 4 WP.No.177/2021 M.SATHYANARAYANAN, J., AND A.A.NAKKIRAN, J., AP WP.No.177/2021 07.01.2021 https://www.mhc.tn.gov.in/judis/ 5