Iifl Home Finance Ltd vs State Of Gujarat on 25 March, 2021

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Gujarat High Court

Iifl Home Finance Ltd vs State Of Gujarat on 25 March, 2021

Bench: Vipul M. Pancholi

              C/SCA/5357/2021                                        ORDER



     IN THE HIGH COURT OF GUJARAT AT AHMEDABAD

     R/SPECIAL CIVIL APPLICATION NO. 5357 of 2021
=======================================================
                IIFL HOME FINANCE LTD.
                         Versus
                   STATE OF GUJARAT
=======================================================
Appearance:
MR CR ABICHANDANI(2421) for the Petitioner(s) No. 1
 for the Respondent(s) No. 2
MR ISHAN JOSHI AGP (99) for the Respondent(s) No. 1
=======================================================
 CORAM: HONOURABLE MR. JUSTICE VIPUL M. PANCHOLI
                   Date : 25/03/2021
                                  ORAL ORDER

1. By way of the present petition, which is filed under Article 226 of the Constitution of India, the petitioner Bank has prayed that respondent no.2 be directed to expeditiously dispose of an application being Application No.479 of 2019 filed by the petitioner under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ('SARFAESI Act' for short).

2. Heard learned advocate Mr. Abichandani appearing for the petitioner.

3. The main grievance of the petitioner in the present petition is that though the petitioner has filed an application under Section 14 of the SARFEASI Act somewhere in December, 2019, the said application is till date not decided. It is pointed out that as per the provisions contained in Section 14 of the SARFAESI Act, the respondent is required to decide the said application and pass suitable orders for the purpose of taking Page 1 of 2 Downloaded on : Thu Jan 13 12:40:53 IST 2022 C/SCA/5357/2021 ORDER possession of the secured assets maximum within 60 days from the date of such application. However, till date, the application filed by the petitioner has not been decided.

4. At this stage, it is pointed out by the learned advocate for the petitioner that in similar type of matters, this Court has considered the grievance of the concerned petitioner and directed the concerned District Magistrate to decide the application filed under Section 14 of the SARFAESI Act. It is, therefore, urged that appropriate direction be issued to the respondent.

5. I have considered the submissions canvassed by the learned advocate for the petitioner. I have also perused the material placed on record including the orders passed by the coordinate Bench of this Court as well as the provisions contained in the SARFAESI Act.

6. In the facts and circumstances of the present case, respondent no.2 - Collector & District Magistrate, Ahmedabad is directed to adhere to the time limit prescribed in the provisions of the SARFAESI Act and take appropriate decision on the application being Application No.479 of 2019 filed by the petitioner as expeditiously as possible and not later than 30 days from the date of receipt of this order.

7. With the aforesaid direction, the petition stands disposed of. Direct Service is permitted.

(VIPUL M. PANCHOLI, J.) Gautam Page 2 of 2 Downloaded on : Thu Jan 13 12:40:53 IST 2022

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