Allahabad High Court
Iifl Home Finance Ltd vs State Of Up And 5 Others on 22 October, 2024
Author: Manoj Kumar Gupta
Bench: Manoj Kumar Gupta
HIGH COURT OF JUDICATURE AT ALLAHABAD ?Neutral Citation No. - 2024:AHC:168580-DB Court No. - 21 Case :- WRIT - C No. - 34788 of 2024 Petitioner :- Iifl Home Finance Ltd Respondent :- State Of Up And 5 Others Counsel for Petitioner :- Ashish Malhotra Counsel for Respondent :- C.S.C. Hon'ble Manoj Kumar Gupta,J.
Hon'ble Anish Kumar Gupta,J.
1. The instant petition is by a secured creditor for a direction to the respondents to ensure implementation of order passed under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as 'the Act').
2. It is submitted that although the borrowers have approached the Debt Recovery Tribunal under Section 17 of the Act, there is no stay in their favour. Specific assertion has been made in this regard in para 20 of the writ petition. It is submitted that in such circumstances, there is no legal impediment in enforcing the order passed under Section 14 of the Act. It is also submitted that in identical facts and circumstances, a detailed order has been passed in Writ-C No.23426 of 2024 having regard to the guidelines prescribed by the State Government for implementation of orders passed under Section 14 of the Act. He submits that identical directions be issued in the instant case.
3. The operative part of the order in Writ-C No.23426 of 2024 is as follows:-
"Having regard to the steps already taken by the State Government in regard to implementation of the orders passed under Section 14 of the Act, we are of the opinion that no further direction is required to be issued by this Court. The petitioner may approach the concerned Magistrate or the S.H.O. for delivery of actual physical possession of the security asset to it provided there is no legal impediment.
The concerned Magistrate/S.H.O. would take appropriate steps for implementation of the order under Section 14 of the Act after verifying that there is no legal impediment.
The petition stands disposed of, accordingly."
4. Accordingly, the instant petition also stands disposed of in same terms.
Order Date :- 22.10.2024 Kirti (Anish Kumar Gupta, J.) (Manoj Kumar Gupta, J.)