CWP-11823 IN THE HIGH COURT OF PUNJAB AND HARYANA AT 132 TRUHOME FINANCE LIMITED CHIEF JUDICIAL CORAM: HON'BLE MR. JUSTICE Present: SUVIR SEHGAL 1. writ in the nature of mandamus directing Chief Judicial Magistrate, Ludhiana to petitioner Financial Assets ‘the SARFAESI 2. No.2 and 3 mortgaged immovable default in repayment, loan notice under Section 13(2) of (Annexur Act dated 29.10.2025, 11823-2026 -1- IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH CWP Date of decision TRUHOME FINANCE LIMITED VERSUS CHIEF JUDICIAL MAGISTRATE LUDHIANA AND OTHERS CORAM: HON'BLE MR. JUSTICE SUVIR SEHGAL HON'BLE MR. JUSTICE VIKAS SURI Mr. Nitin Grover, Advocate for the petitioner through VC. Mr. A.S. Khara, Sr. DAG, Punjab *** SEHGAL, J. This writ petition has been filed the nature of mandamus directing Chief Judicial Magistrate, Ludhiana to decide the application dated 21.11.2025, Annexure P under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, ‘the SARFAESI Act’). Counsel for the petitioner submits that borrowers No.2 and 3, had taken a loan from the petitioner mortgaged immovable property. Counsel asserts that due to continuous default in repayment, loan account was classified as NPA on 03.08.2025. A notice under Section 13(2) of the SARFAESI Act was issued on 13.08.2025 e P-1), followed by notice under Section 13(4) of the SARFAESI Act dated 29.10.2025, whereafter symbolic possession of the secured asset IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH CWP-11823-2026 ate of decision:21.04.2026 ...PETITIONER VERSUS MAGISTRATE LUDHIANA AND OTHERS ...RESPONDENTS SUVIR SEHGAL VIKAS SURI for the petitioner through VC. Mr. A.S. Khara, Sr. DAG, Punjab. This writ petition has been filed, inter alia, for issuance of a the nature of mandamus directing Chief Judicial Magistrate, decide the application dated 21.11.2025, Annexure P-2, filed by the Securitisation and Reconstruction of and Enforcement of Security Interest Act, 2002 (for short, Counsel for the petitioner submits that borrowers-respondents from the petitioner-finance company and had property. Counsel asserts that due to continuous account was classified as NPA on 03.08.2025. A the SARFAESI Act was issued on 13.08.2025 notice under Section 13(4) of the SARFAESI whereafter symbolic possession of the secured asset for issuance of a the nature of mandamus directing Chief Judicial Magistrate, 2, filed by the Securitisation and Reconstruction of and Enforcement of Security Interest Act, 2002 (for short, respondents finance company and had property. Counsel asserts that due to continuous account was classified as NPA on 03.08.2025. A the SARFAESI Act was issued on 13.08.2025 notice under Section 13(4) of the SARFAESI whereafter symbolic possession of the secured asset SHEETAL 2026.04.23 16:47 I attest to the accuracy and authenticity of this order/judgment High Court, Chandigarh CWP-11823 was taken. Counsel states P-2) under Section 14 of the Magistrate, Ludhiana in November made a reference to the statutory application has to be decided within the time 3. respondents. 4. appearance on behalf of instructions. 5. observations of this Court in Hisar and others Limited vs. State of Haryana and others writ petition is disposed of with a direction Ludhiana, possible, communication of copy doing so. 21.04.2026 sheetal 11823-2026 -2- was taken. Counsel states that petitioner moved an application (Annexure 2) under Section 14 of the SARFAESI Act before the Magistrate, Ludhiana in November 2025, which is still pending. Counsel has made a reference to the statutory provisions and has urged that the application has to be decided within the time Advance copy of the petition has been served upon the official respondents. On asking, Mr. A.S. Khara, Sr. DAG, Punjab, appearance on behalf of respondents instructions. Having heard counsel for parties and keeping in view the observations of this Court in Bank of Maharashtra vs. District Magistrate, Hisar and others 2024 (2) PLR 346 as well as in Limited vs. State of Haryana and others petition is disposed of with a direction Ludhiana, to decide the application (Annexure P preferably within a period of 60 days from the date of communication of copy of this order, unless there is any legal impediment in (SUVIR SEHGAL ( .2026 Whether Speaking/reasoned Yes/No Whether Reportable Yes/No that petitioner moved an application (Annexure SARFAESI Act before the Chief Judicial 2025, which is still pending. Counsel has provisions and has urged that the application has to be decided within the time frame provided in the statute. he petition has been served upon the official Mr. A.S. Khara, Sr. DAG, Punjab, has put in respondents-State. He does not have any Having heard counsel for parties and keeping in view the Bank of Maharashtra vs. District Magistrate, as well as in IIFL Home Finance Limited vs. State of Haryana and others, Law Finder Doc ID #2875322 petition is disposed of with a direction to Chief Judicial Magistrate, to decide the application (Annexure P-2) as expeditiously as preferably within a period of 60 days from the date of of this order, unless there is any legal impediment in SUVIR SEHGAL) JUDGE (VIKAS SURI) JUDGE Yes/No Yes/No that petitioner moved an application (Annexure Chief Judicial 2025, which is still pending. Counsel has provisions and has urged that the frame provided in the statute. he petition has been served upon the official has put in . He does not have any Having heard counsel for parties and keeping in view the Bank of Maharashtra vs. District Magistrate, IIFL Home Finance , Law Finder Doc ID #2875322, to Chief Judicial Magistrate, 2) as expeditiously as preferably within a period of 60 days from the date of of this order, unless there is any legal impediment in SHEETAL 2026.04.23 16:47 I attest to the accuracy and authenticity of this order/judgment High Court, Chandigarh