Madras High Court
M/S.Iifl Home Finance Limited vs The District Magistrate Cum District ... on 7 November, 2019
Author: R.Subbiah
Bench: R.Subbiah, T.Krishnavalli
Writ Petition No.31377 of 2019
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED : 07.11.2019
CORAM
THE HONOURABLE MR.JUSTICE R.SUBBIAH
and
THE HONOURABLE MRS.JUSTICE T.KRISHNAVALLI
Writ Petition No.31377 of 2019
M/s.IIFL Home Finance Limited,
formerly known as
M/s.India Infoline Housing Finance Limited,
having its registered office at
12A-10, 13th Floor, Parinee Crescenzo,
C-38 and C-39, G Block, Behind MCA,
Bandra Kurla Complex Bandra East,
Mumbai – 400 051.
Branch Office at 9th Floor, Bascon Futura,
No.10/1, Venkatanarayanan Road,
T.Nagar, Chennai – 600 017.
through its Authorized Officer, Mr.R.Frazer ... Petitioner
Vs
The District Magistrate cum District Collector,
Chennai District,
Chennai. ... Respondent
Writ Petition filed under Article 226 of the Constitution of India
praying to issue a Writ of Mandamus directing respondent to pass orders on
Section 14 petition under SARFAESI Act, 2002, filed by petitioner before
respondent on 12.07.2019.
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http://www.judis.nic.in
Writ Petition No.31377 of 2019
For Petitioner : Mr.V.Balasubramani
For Respondent : Mr.V.Jayaprakash Narayanan
Government Pleader
*****
ORDER
[Order of this Court was made by R.SUBBIAH, J] Petitioner has filed this Writ Petition seeking issuance of a Writ of Mandamus directing respondent to pass orders on the SARFAESI Application dated 12.07.2019 filed u/s.14 of the SARFAESI Act by the petitioner within a specified date.
2. Petitioner is a financial institution. It is the case of petitioner that one M.J.Logesh Babu and J.Devi Manohari approached the petitioner seeking loan and petitioner has also sanctioned loan facility of Rs.16,00,000/- on 29.09.2012 with a condition to repay the same in 120 EMI's of Rs.24,603/-. Necessary documents have been produced. The borrowers have also created equitable mortgage over the immovable property to secure repayment of the said loan in respect of the property at Door No.23 Part, Block No.35, S.No.1/1A5, Patta New S.No.40, Kamarajar Salai, Periya Sekkadu, Madhavaram, MIC Colony, Chennai – 600 005. Subsequently, the borrowers defaulted in making payments and hence, the account became ‘Non-Performing Asset’. Therefore, the petitioner 2/4 http://www.judis.nic.in Writ Petition No.31377 of 2019 institution issued a notice u/s.13(2) of SARFAESI Act on 07.06.2018 calling upon the borrowers to pay a sum of Rs.12,05,144/- within 60 days from the date of notice. Since the borrower did not repay the amount, a further possession notice u/s.13(4) of SARFAESI Act was issued on 22.08.2018 and took symbolic possession of the mortgaged property and also published the same in the newspapers viz., ‘Business Standard-English Edition and Dinakaran – Tamil Edition’. Thereafter, petitioner institution has filed an application u/s.14 of SARFAESI Act before the respondent seeking assistance for taking physical possession of the secured asset on 12.07.2019. Since no action was taken on the said application, the present Writ Petition has been filed.
3. Heard learned counsel for petitioner and learned Government Pleader for respondent.
4. Considering the limited prayer sought for in this Writ Petition, this Court, without going into the merits of the case, directs the respondent to take appropriate action on the SARFAESI Application dated 12.07.2019 filed u/s.14 of the SARFAESI Act by the petitioner institution within a period of eight weeks from the date of receipt of this order. 3/4 http://www.judis.nic.in Writ Petition No.31377 of 2019 R.SUBBIAH, J and T.KRISHNAVALLI, J gm The Writ Petition is disposed of with the above direction. No costs.
[R.P.S., J] [T.K., J]
07.11.2019
(1/6)
Index:yes/no
Internet:yes
gm
To
The District Magistrate cum District Collector, Chennai District, Chennai.
Writ Petition No.31377 of 2019 4/4 http://www.judis.nic.in