CWP-20849 IN THE HIGH COURT OF PUNJAB AND HARYANA CAN FIN Homes Limited State of Haryana CORAM: Present: SHEEL NAGU, CHIEF JUSTICE 1. Institution aggr P-3) passed by the of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short, ‘SARFAESI Act’). 2. has failed to discharge his statutory duty of physical possession of the secured asset to the petitioner Institution. 2.1 exchequer, banking and financial system, and, thus, prompt enforcement of 0849-2025 IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH CAN FIN Homes Limited Versus Haryana and others CORAM: HON'BLE MR. JUSTICE SHEEL NAGU, CHIEF JUSTICE HON'BLE MR. JUSTICE SANJIV BERRY Mr. Banni Thomas, Advocate, for the petitioner. Mr. Deepak Balyan, Addl. A.G., Haryana **** SHEEL NAGU, CHIEF JUSTICE ( Oral ) The present petition has been filed by petitioner Institution aggrieved by non-execution of order ) passed by the District Magistrate, Jind of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short, ‘SARFAESI Act’). It is rather surprising that the has failed to discharge his statutory duty of physical possession of the secured asset to the petitioner Institution. Non-Performing Assets (NPAs) are a huge burden on the public exchequer, banking and financial system, and, thus, prompt enforcement of -1- IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH CWP-20849-2025 Date of decision : 06.08.2025 …….Petitioner ...….Respondents HON'BLE MR. JUSTICE SHEEL NAGU, CHIEF JUSTICE HON'BLE MR. JUSTICE SANJIV BERRY , Advocate, Deepak Balyan, Addl. A.G., Haryana. ( Oral ) The present petition has been filed by petitioner – Financial execution of order dated 21.02.2024 (Annexure Jind, under the provisions of Section of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short, ‘SARFAESI Act’). It is rather surprising that the Tehsildar Jind (respondent No. has failed to discharge his statutory duty of assisting and handing over physical possession of the secured asset to the petitioner – Financial Performing Assets (NPAs) are a huge burden on the public exchequer, banking and financial system, and, thus, prompt enforcement of 2025 .08.2025 …….Petitioner ...….Respondents HON'BLE MR. JUSTICE SHEEL NAGU, CHIEF JUSTICE Financial (Annexure , under the provisions of Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement (respondent No.3), assisting and handing over Financial Performing Assets (NPAs) are a huge burden on the public exchequer, banking and financial system, and, thus, prompt enforcement of AJAY PRASHER 2025.08.19 09:42 I attest to the accuracy and integrity of this document CWP-20849 recovery mechanism under the SARFAESI Act is paramount for liquidity in the system. 3. directs respondents No. (Annexure P SARFAESI Act, by handing over physical possession of the secured asset to the petitioner within a period of thirty days. The petitioner can proceed to adopt all possible legitimate means to liquidate the secured asset to recover the due amount. 4. aforesaid. in Bank of Maharashtra 7018-2022 (decided on 28.05.2024) be adhered to by the concerned authorities. 5. restraint/interim/final order which may have been passed by any judicial forum, in favour of the borrowers party to this lis August 06, 2025 Ajay Prasher 0849-2025 ery mechanism under the SARFAESI Act is paramount for liquidity in the system. In view of the above, this Court by way of writ of mandamus directs respondents No.2 and 5 to execute the order dated (Annexure P-3) passed by the District Magistrate, 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 thirty days. The petitioner can proceed to adopt all possible legitimate means to liquidate the secured asset to recover the due amount. This petition for the time being stands disposed of in the terms Needless to say that the guideli Bank of Maharashtra Vs. District Magistrate, Hisar and others, 2022 (decided on 28.05.2024) be adhered to by the concerned authorities. We hasten to add that this order shall, however, be subject to any straint/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. , 2025 Whether speaking/reasoned Whether reportable -2- ery mechanism under the SARFAESI Act is paramount for liquidity in In view of the above, this Court by way of writ of mandamus execute the order dated 21.02.2024 District Magistrate, Jind, under Section 14 of the SARFAESI Act, by handing over physical possession of the secured asset to Financial Institution, as expeditiously as possible, preferably within a period of thirty days. The petitioner – Financial Institution, thereafter, can proceed to adopt all possible legitimate means to liquidate the secured This petition for the time being stands disposed of in the terms Needless to say that the guidelines laid down by Coordinate Bench District Magistrate, Hisar and others, CWP 2022 (decided on 28.05.2024) be adhered to by the concerned We hasten to add that this order shall, however, be subject to any straint/interim/final order which may have been passed by any judicial /guarantor/any aggrieved person, who is ( SHEEL NAGU ) CHIEF JUSTICE ( SANJIV BERRY ) JUDGE : Yes/No : Yes/No ery mechanism under the SARFAESI Act is paramount for liquidity in In view of the above, this Court by way of writ of mandamus 21.02.2024 , under Section 14 of the SARFAESI Act, by handing over physical possession of the secured asset to Financial Institution, as expeditiously as possible, preferably inancial Institution, thereafter, can proceed to adopt all possible legitimate means to liquidate the secured This petition for the time being stands disposed of in the terms nes laid down by Coordinate Bench CWP- 2022 (decided on 28.05.2024) be adhered to by the concerned We hasten to add that this order shall, however, be subject to any straint/interim/final order which may have been passed by any judicial /guarantor/any aggrieved person, who is AJAY PRASHER 2025.08.19 09:42 I attest to the accuracy and integrity of this document