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1 - 10 of 10 (0.24 seconds)The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002
The Authorized Officer,Indian Bank vs D. Visalakshi on 23 September, 2019
In support of his
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submission, he has relied upon the decision of the Hon'ble
Apex Court in Authorised Officer, Indian Bank v. D.
Visalakshi and Another 2019 (20) SCC 47. By taking us
through paragraph No.33 of the said judgment, he would
submit that the Magistrate is trying to adjudicate the interest
and right of the parties with regard to the property in
question. He, therefore, would submit that the appeal be
allowed and the judgment of the learned Single Jude and
Ext.P7 order passed by the Chief Judicial Magistrate be
quashed and set aside. Paragraph No.33 of the judgment
reads as under:
Income Tax Officer vs M.K. Mohammed Kunhi on 11 September, 1968
21. An express grant of statutory powers carries with
it by necessary implication the authority to use all
reasonable means to make such grant effective. Thus
in ITO v. M.K.Mohammad Kunhi (AIR 1969 SC 430)
this Court held that the Income Tax Appellate
Tribunal has implied powers to grant stay, although
no such power has been expressly granted to it by
the Income Tax Act.
Union Of India And Anr vs Paras Laminates (P) Ltd on 17 August, 1990
22. Similar examples where this Court has affirmed
the doctrine of implied powers are Union of India v.
Paras Laminates (P) Ltd., ((1990) 4 SCC 453), RBI v.
Peerless General Finance and Investment Co. Ltd.
((1996) 1 SCC 642 at p.656), CEO & Vice-Chairman,
Gujarat Maritime Board v. Haji Daud Haji Harun
Abu, ((1996) 11 SCC 23), J.K.Synthetics Ltd. v. CCE
((1996) 6 SCC 92), State of Karnataka v.
Vishwabharathi House Building Coop. Society
((2003) 2 SCC
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An overall reading of the section shows that the power
of the Magistrate is to render assistance to the
secured creditor in taking possession of the secured
assets. He can also appoint a Commissioner for
identification of the secured assets and taking
possession of the secured assets etc. and if there is
any resistance, ask for police assistance and take any
effective steps to have possession of the secured assets
taken over.
C E Or & Vice Chairman, Gujarat Maritime ... vs Shri Haji Daud Haji Harun Abuand Two ... on 20 November, 1996
22. Similar examples where this Court has affirmed
the doctrine of implied powers are Union of India v.
Paras Laminates (P) Ltd., ((1990) 4 SCC 453), RBI v.
Peerless General Finance and Investment Co. Ltd.
((1996) 1 SCC 642 at p.656), CEO & Vice-Chairman,
Gujarat Maritime Board v. Haji Daud Haji Harun
Abu, ((1996) 11 SCC 23), J.K.Synthetics Ltd. v. CCE
((1996) 6 SCC 92), State of Karnataka v.
Vishwabharathi House Building Coop. Society
((2003) 2 SCC
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An overall reading of the section shows that the power
of the Magistrate is to render assistance to the
secured creditor in taking possession of the secured
assets. He can also appoint a Commissioner for
identification of the secured assets and taking
possession of the secured assets etc. and if there is
any resistance, ask for police assistance and take any
effective steps to have possession of the secured assets
taken over.
Section 5 in Kerala High Court Act, 1958 [Entire Act]
State Of Karnataka vs Vishwabharathi House Building ... on 17 January, 2003
22. Similar examples where this Court has affirmed
the doctrine of implied powers are Union of India v.
Paras Laminates (P) Ltd., ((1990) 4 SCC 453), RBI v.
Peerless General Finance and Investment Co. Ltd.
((1996) 1 SCC 642 at p.656), CEO & Vice-Chairman,
Gujarat Maritime Board v. Haji Daud Haji Harun
Abu, ((1996) 11 SCC 23), J.K.Synthetics Ltd. v. CCE
((1996) 6 SCC 92), State of Karnataka v.
Vishwabharathi House Building Coop. Society
((2003) 2 SCC
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An overall reading of the section shows that the power
of the Magistrate is to render assistance to the
secured creditor in taking possession of the secured
assets. He can also appoint a Commissioner for
identification of the secured assets and taking
possession of the secured assets etc. and if there is
any resistance, ask for police assistance and take any
effective steps to have possession of the secured assets
taken over.
The Income Tax Act, 1961
Mohd.Ashraf Aslam Qureshi And Anr vs Union Bank Of India And 6 Ors on 20 June, 2023
3. On the other hand, the learned Counsel appearing
for the Bank would submit that the sale deed came to be
executed by the appellant way back on 24.05.2011 and was
registered with the authority. The property described in
Clause 17 of the sale deed includes the entire property which
was mortgaged with the bank by the purchaser and had
availed loan. The suit filed by the petitioner is already
dismissed for default and at present, no suit proceedings are
pending except an application for revival of the suit. He would
further submit that the bank intends to take possession of the
property which was mortgaged with the bank and therefore,
the appellant filed an application for identifying the property
with the assistance of the Taluk Surveyor and accordingly, the
Magistrate has passed appropriate order which has not been
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interfered by the learned Single Judge. He would submit that
a Division Bench of this Court in Muhammed Ashraf and
Another v. Union of India and Others 2008 (3) KHC
935, has examined this issue and after discussing the power
under Section 14 of the SARFAESI Act, has held that the
Judicial Magistrate can pass such orders of taking possession
by providing assistance to secure the assets and can appoint a
Commission. Having gone through the judgment,
particularly, paragraph No.6, we are of the opinion that the
said judgment is applicable in the present case. Paragraph
No.6 reads as under:
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