1 2025:CGHC:25183 NAFR HIGH COURT OF CHHATTISGARH AT BILASPUR WPC No. 2983 of 2025 1 - Hdfc Bank Limited Through Authorized Officer, Rajesh Kulakada, Dy. Vice President, Aged 51 Years, Having Office Address At Hdfc Bank Ltd., Department Of Special Operations, Peninsula Business Park, B-Wing, 4th Floor, Ganpatrao Kadam Marg, Lower Parel West, Mumbai, Maharashtra - 400013 And Branch Office Hdfc Bank, 1st Floor, Ecg, Bajrang Towers, Opp. Uco Bank, New Rajendra Nagar, Raipur (C.G.) - 492001. ... Petitioner(s) versus 1 - State Of Chhattisgarh Through Secretary, General Administration, Mahanadi Bhavan, New Mantralaya, Atal Nagar, New Raipur (C.G.) 2 - The Chief Judicial Magistrate Dist - Raipur (C.G.) (Authority Under Sec 14 Of The Sarfaesi Act) 3 - M/s. Ac Steels Through Partner Shri Rajendra Surana, R/o. Sector- C, 71/72, Urla Industrial Area, Dharsiwa, Dist. Raipur (C.G.) 4 - Rajendra Surana Addressed At Middle Income Group, Housing Corporative Society, Flat No. 87, Vivekanand Nagar, District - Raipur (C.G.) 5 - Rahul Surana Addressed At Middle Income Group, Housing Corporative Society, Flat No. 87, Vivekanand Nagar, District - Raipur (C.G.) 6 - Shreyansh Surana Addressed At Middle Income Group, Housing Corporative Society, Flat No. 87, Vivekanand Nagar, District - Raipur (C.G.) 7 - Santoshi Devi Surana Addressed At Middle Income Group, Housing Corporative Society, Flat No. 87, Vivekanand Nagar, District - Raipur (C.G.) ... Respondent(s) 2 For Petitioner(s) : Mr. Devershi Thakur, Advocate For Respondent(s) : Mr. Rishabh Bisen, Panel Lawyer Hon’ble Shri Justice Arvind Kumar Verma, Judge Order on Board 18/06/2025 1. Learned counsel for the petitioner submits that the procedure under Section 14 of the Securitisation and Reconstruction of Financial Assests and Enforcement of Security Interest Act, 2002 (for short, ‘the SARFAESI Act’) was commenced against the borrowers i.e. Respondents No. 3 to 7, as their account was declared as NPA. It is stated that the proceeding was commenced in the month of July, 2024. 2. According to the learned counsel for the petitioner, the proviso to Section 14 of the SARFAESI Act provides that the decision on the like nature of the said application to be concluded within a period of 30 days and, if not so, within a further period of 60 days. However, despite the fact that the application under Section 14 of the Act, 2002 was filed on 14.12.2024 and from December, 2024 though around 6 months’ period has elapsed, the proceeding under Section 14 of the SARFAESI Act has not been concluded by Respondent No. 2. 3. For ready reference, the proviso clause of Section 14 of the SARFAESI Act, is reproduced as under:- “[Provided that any application by the secured creditor shall be accompanied by an affidavit duly affirmed by the authorised officer of the secured creditor, declaring that- (i)the aggregate amount of financial assistance 3 granted and the total claim of the Bank as on the date of filing the application;(ii)the borrower has created security interest over various properties and that the Bank or Financial Institution is holding a valid and subsisting security interest over such properties and the claim of the Bank or Financial Institution is within the limitation period; (iii)the borrower has created security interest over various properties giving the details of properties referred to in sub-clause (ii) above. (iv)the borrower has committed default in repayment of the financial assistance granted aggregating the specified amount; (v)consequent upon such default in repayment of the fInancial assistance the account of the borrower has been classified as a nonperforming asset; (vi)affirming that the period of sixty days notice as required by the provisions of sub-section (2) of section 13, demanding payment of the defaulted financial assistance has been served on the borrower; (vii)the objection or representation in reply to the notice received from the borrower has been considered by the secured creditor and reasons for non-acceptance of such objection or representation had been communicated to the borrower; (viii)the borrower has not made any repayment of the financial assistance in spite of the above notice and the Authorised Officer is, therefore, entitled to take possession of the secl1red assets under the provisions of sub-section (4) of section 13 read 4 with section 14 of the principal Act; (ix)that the provisions of this Act and the rules made thereunder had been complied with: Provided further that on receipt of the affidavit from the Authorised Officer, the District Magistrate or the Chief Metropolitan Magistrate, as the case may be, shall after satisfying the contents of the affidavit pass suitable orders for the purpose of taking possession of the secured assets [within a period of thirty days from the date of application] Provided also that the requirement of filing affidavit stated in the first proviso shall not apply to proceeding pending before any District Magistrate or the Chief Metropolitan Magistrate, as the case may be, on the date of commencement of this Act.] [Provided further that if no order is passed by the Chief Metropolitan Magistrate or District Magistrate within the said period of thirty days for reasons beyond his control, he may, after recording reasons in writing for the same, pass the order within such further period but not exceeding in aggregate sixty days.]” 4. The SARFAESI Act provides that when Section 14 proceeding is moved, the Officer shall, after satisfying the contents of the affidavit, pass suitable orders for the purpose of taking possession of the secured assets within a period of thirty days from the date of application and, if he fails to do it, then the said period of thirty days may further extend to sixty days but shall not exceed which aggregate to sixty days. The SARFAESI Act further provides that the reasons shall also be recorded in the order. 5 5. Prima facie, the documents, in the instant case, show that the sixty days’ period has already exceeded much before. Therefore, the Respondent No. 2 is directed to conclude the proceeding under Section 14 of the SARFAESI Act within a further period of 30 days from the date of receipt of copy of this order. 6. With the aforesaid direction, the writ petition stands disposed of. SD/- (Arvind Kumar Verma) JUDGE Madhurima