Iifl Home Finance Ltd. (Formerly Known ... vs State Of Gujarat on 9 March, 2021

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Gujarat High Court

Iifl Home Finance Ltd. (Formerly Known ... vs State Of Gujarat on 9 March, 2021

Bench: Vipul M. Pancholi

         C/SCA/4475/2021                                             ORDER




          IN THE HIGH COURT OF GUJARAT AT AHMEDABAD

        R/SPECIAL CIVIL APPLICATION NO.                   4475 of 2021

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IIFL HOME FINANCE LTD. (FORMERLY KNOWN AS INDIA INFOLINE
                HOUSING FINANCE LIMITED)
                          Versus
                    STATE OF GUJARAT
==========================================================
Appearance:
MR CR ABICHANDANI(2421) for the Petitioner(s) No. 1
MR ISHAN JOSHI, AGP for the Respondent(s) No. 1,2
==========================================================

 CORAM: HONOURABLE MR. JUSTICE VIPUL M. PANCHOLI

                              Date : 09/03/2021

                                   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 District Magistrate be directed to pass an appropriate order on application dated 22.09.2020 being Securitisation Case No.167 of 2020 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) as expeditiously as possible.

2. Heard learned advocate Mr. Abichandani appearing for the petitioner and learned Assistant Government Pleader Mr.Ishan Joshi for the respondents.

3. The main grievance of the petitioner in the present petition is that though the petitioner has filed an Page 1 of 3 Downloaded on : Thu Jan 13 07:16:26 IST 2022 C/SCA/4475/2021 ORDER application under Section 14 of the SARFEASI Act on 22.09.2020, 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, respondent No.2 is required to decide the said application and pass suitable orders for the purpose of taking 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.

3.1 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. Learned advocate appearing for the petitioner has referred the said orders, which are placed on record. It is, therefore, urged that appropriate direction be issued to respondent No.2.

4. 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.

5. In the facts and circumstances of the present case, respondent No.2 District Magistrate, Rajkot, is directed to adhere to the time limit prescribed in the provisions of the SARFAESI Act and take appropriate Page 2 of 3 Downloaded on : Thu Jan 13 07:16:26 IST 2022 C/SCA/4475/2021 ORDER decision on the application dated 22.09.2020 being Securitisation Case No.167 of 2020 filed by the petitioner under Section 14 of the SARFAESI Act, as expeditiously as possible and not later than 30 days from the date of receipt of this order.

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

(VIPUL M. PANCHOLI, J) LAVKUMAR J JANI Page 3 of 3 Downloaded on : Thu Jan 13 07:16:26 IST 2022

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