Allahabad High Court
Iifl Home Finance Limited vs State Of U.P. And 8 Others on 4 January, 2024
Author: Manoj Kumar Gupta
Bench: Manoj Kumar Gupta
HIGH COURT OF JUDICATURE AT ALLAHABAD ?Neutral Citation No. - 2024:AHC:1529-DB Court No. - 21 Case :- WRIT - C No. - 44343 of 2023 Petitioner :- Iifl Home Finance Limited Respondent :- State Of U.P. And 8 Others Counsel for Petitioner :- Ashish Malhotra Counsel for Respondent :- C.S.C. Hon'ble Manoj Kumar Gupta,Acting Chief Justice Hon'ble Kshitij Shailendra,J.
1. The sole prayer made in the instant petition is for a direction to respondent No.2 to decide the application of the petitioner filed under Section 14 of the Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002 (hereinafter referred to as 'the Act, 2002') within specified time frame. The application is stated to be pending since 01.11.2022.
2. The second proviso to sub-Section (1) of Section 14 of the Act, 2002 mandates that the application shall be disposed of within a period of thirty days from the date of application. In case, the matter is adjourned beyond thirty days, the Chief Metropolitan Magistrate or the District Magistrate, before whom it is pending, shall record reasons as to why it could not be disposed of within thirty days provided that the said period shall not exceed sixty days in aggregate.
3. Consequently, we dispose of the instant writ petition with direction to respondent No.2 to make all possible efforts to dispose of the application under Section 14 of the Act, 2002 within four weeks from the date of communication of the instant order provided there is no legal impediment.
Order Date :- 4.1.2024 Jyotsana (Kshitij Shailendra, J.) (Manoj Kumar Gupta, A.C.J.)