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2025 DAILYLAW 127278 (ALL)

L AND T FINANCE LTD. (LTF) THRU. AUTHORIZED OFFICER MR. MAYANK NIGAM v. STATE OF U.P. THRU. PRIN. SECY. DEPTT. OF HOME LKO. AND 5 OTHERS

WRIC/2287/2025 · 2025-03-07

Ajai Kumar Srivastava I, Sangeeta Chandra

body2025

Judgment text

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Neutral Citation No. - 2025:AHC-LKO:14053-DB Court No. - 9 Case :- WRIT - C No. - 2287 of 2025 Petitioner :- L And T Finance Ltd. (Ltf) Thru. Authorized Officer Mr. Mayank Nigam Respondent :- State Of U.P. Thru. Prin. Secy. Deptt. Of Home Lko. And 5 Others Counsel for Petitioner :- Yogi Sharma Counsel for Respondent :- Ccs Hon'ble Mrs. Sangeeta Chandra,J. Hon'ble Ajai Kumar Srivastava-I,J. 1. Heard learned counsel for the petitioner and learned Standing Counsel, who appears on behalf of State- respondent. 2. This writ petition has been filed with the following prayers :- i. Issue a writ, order or direction in the nature of Mandamus commanding the Respondent No-2 i.e. Additional Chief Judicial Magistrate IIIrd, Lucknow to decide the application moved by Petitioner Company Under Section 14 of SERFAESI Act "Case no. 56453/2024" titled as "L&T Finance Ltd. Versus Anju and Others"", before him respectively expeditiously within a short-stipulated period fixed by this Hon'ble Court. ii. issue any other writ, order or direction of suitable nature in favor of the petitioner, which this Hon'ble Court may deem fit and proper in the facts and circumstances of the case. 3. It is the case of the petitioner that it is a public limited company engaged in providing credit facilities, and that it had give such facilities to respondent nos. 3 to 6. Since respondent nos. 3 to 6 failed to repay the loan, the petitioner proceeded under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as the 'SARFAESI Act'), and actions were taken under Section 13(2) and Section 13(4) of the SARFAESI Act. Thereafter, the petitioner filed an application under Section 14 of the SARFAESI Act on 21.06.2024, bearing No. 56453 of 2024. Since the said application has remained pending and no suitable orders have been passed, the petitioner has been forced to approach this Court. 4. Learned counsel for the petitioner has placed reliance upon an order passed by a coordinate Bench of this Court on 07.02.2025 in Writ C No. 1087 of 2025, Central Bank of India vs. State of U.P. and others, a copy of which has been provided to this Court. 5. We have gone through the order dated 07.02.2025, as aforesaid, passed by the coordinate Bench of this Court, wherein it has relied upon the judgments and orders dated 25.10.2024 and 14.11.2024, passed in Writ C No. 8867 of 2024; Bank of Baroda earlier Vijaya Bank vs. State of U.P. and 8 others, and Writ C No. 9723 of 2024; PNB Housing Finance Limited Lucknow vs. State of U.P. and 8 others, respectively. The court has issued directions that the petitioner should place the aforesaid judgments before the Chief Judicial Magistrate concerned to ensure that the proceedings under Section 14 of the SARFAESI Act are carried out in accordance with the law settled by this Court in the aforesaid two writ petitions relating to Bank of Baroda and PNB Housing Finance Limited. 6. The court has also made certain observations regarding the High Court's jurisdiction on the administrative side for circulating these judgments to all the Chief Judicial Magistrates to ensure compliance. 7. This petition is disposed of with a direction to the petitioner to approach respondent no. 2 by way of an application to be moved within a week, containing copies of the judgments and orders dated 25.10.2024 and 14.11.2024, as aforesaid, as well as the order dated 07.02.2025 passed in Writ C No. 1087 of 2025. It is expected that respondent no. 2 shall comply with the procedure as laid down by this Court with regard to the proceedings under Section 14 of the SARFAESI Act and ensure that they are concluded as expeditiously as possible. Order Date :- 7.3.2025 A.Dewal Digitally signed by :- ASHISH DEWAL High Court of Judicature at Allahabad, Lucknow Bench