115/2 -1- CWP-22736-2025 (O&M) IN THE HIGH COURT OF PUNJAB & HARYANA AT CHANDIGARH CWP-22736-2025 (O&M) Date of decision: 17.09.2025 Vastu Housing Finance Corporation Ltd ….Petitioner. Versus State of Haryana and others ....Respondents. CORAM: HON’BLE MR. JUSTICE SHEEL NAGU, CHIEF JUSTICE HON’BLE MR. JUSTICE SANJIV BERRY, JUDGE Present:- Mr. Lakshay Jindal, Advocate, for the petitioner. Mr. Deepak Balyan, Addl. AG, Haryana. ..… SHEEL NAGU, CHIEF JUSTICE (Oral) CM-12866-2025 Keeping in view the averments made in the application, Tehsildar, Tehsil Safidon, District Jind, Haryana, is ordered to be impleaded as respondent No. 7 for the purpose of present petition. Amended memo of parties is taken on record. 2. Registry to tag the same at appropriate place. 3. Disposed of. Main case 1. The present writ petition has been filed by petitioner/financial institution aggrieved by non-execution of the order dated 30.09.2024 (Annexure P-4) passed by the Chief Judicial Magistrate, Jind, under the provisions of Section 14 Securitisation and PREETI 2025.09.18 15:23 I attest to the accuracy and integrity of this document 115/2 -2- CWP-22736-2025 (O&M) Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act for brevity). 2. It is rather surprising that the learned Chief Judicial Magistrate, Jind, or the concerned official have failed to discharge their statutory duty of assisting and handing over physical possession of the secured asset to the petitioner/financial institution. 2.1 Non-Performing Assets (NPAs) are a huge burden on the public exchequer, financial institutioning and financial system, and, thus, prompt enforcement of recovery mechanism under the SARFAESI Act is paramount for liquidity in the system. 3. In view of the above, this court by way of writ of mandamus directs the Chief Judicial Magistrate, Jind, to execute the order dated 30.09.2024 (Annexure P-4) passed under Section 14 of SARFAESI Act by handing over physical possession of the secured asset to the petitioner/financial institution as expeditiously as possible, preferably, within a period of 30 days. The petitioner/financial institution, thereafter, can proceed to adopt all possible legitimate means to liquidate the secured asset to recover the due amount. 4. The petition for the time being stands disposed of in the terms aforesaid. Needless to say that the guidelines laid down by Coordinate Bench in financial institution of Maharashtra Vs. District Magistrate, Hisar And Others [CWP-7018-2022 decided on 28.05.2024] be adhered to by the concerned authorities. PREETI 2025.09.18 15:23 I attest to the accuracy and integrity of this document 115/2 -3- CWP-22736-2025 (O&M) 5. We hasten to add that this order shall however be subject to any restraint/ interim/ final order which may have been passed by any judicial forum, in favour of the borrowers/ guarantor/ any aggrieved person, who is party to this lis. (SHEEL NAGU) CHIEF JUSTICE (SANJIV BERRY) 17.09.2025 JUDGE preeti i) Whether speaking/reasoned? Yes/No ii) Whether reportable? Yes/No PREETI 2025.09.18 15:23 I attest to the accuracy and integrity of this document