CWP-21681 IN THE HIGH COURT OF PUNJAB AND HARYANA SMFG India Home Finance Company Limited District Magistrate, Sri Muktsar Sahib, Punjab CORAM: Present: SHEEL NAGU, CHIEF JUSTICE 1. respondents No.2 and 3 to the effect that they should be substituted with the following description: memo of parties, filed by the petitioner, is taken on record. 2. Institution aggr P-4) passed by the 21681-2025 IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH SMFG India Home Finance Company Limited Versus District Magistrate, Sri Muktsar Sahib, Punjab CORAM: HON'BLE MR. JUSTICE SHEEL NAGU, CHIEF JUSTICE HON'BLE MR. JUSTICE SANJIV BERRY Mr. Himendra Pal Singh, Advocate, for the petitioner. Mr. Vipin Pal Yadav, Addl. Advocate General, Punjab. **** SHEEL NAGU, CHIEF JUSTICE ( Oral ) An oral prayer has been made for correction of the description of respondents No.2 and 3 to the effect that they should be substituted with the wing description:- “2. Tehsildar Malout, District Sri Muktsar Sahib, Punjab. 3. Senior Superintendent of Police, Sri Muktsar Sahib, Punjab.” The oral request made by the petitioner is acceded to. memo of parties, filed by the petitioner, is taken on record. The present petition has been filed by petitioner Institution aggrieved by non-execution of order ) passed by the District Magistrate, Sri Muktsar Sahib -1- IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH CWP-21681-2025 Date of decision : 11.08.2025 SMFG India Home Finance Company Limited …….Petitioner District Magistrate, Sri Muktsar Sahib, Punjab and others ...….Respondents HON'BLE MR. JUSTICE SHEEL NAGU, CHIEF JUSTICE HON'BLE MR. JUSTICE SANJIV BERRY , Advocate, Mr. Vipin Pal Yadav, Addl. Advocate General, Punjab. ( Oral ) An oral prayer has been made for correction of the description of respondents No.2 and 3 to the effect that they should be substituted with the Tehsildar Malout, District Sri Muktsar Sahib, Punjab. Senior Superintendent of Police, Sri Muktsar Sahib, The oral request made by the petitioner is acceded to. Amended memo of parties, filed by the petitioner, is taken on record. The present petition has been filed by petitioner – Financial execution of order dated 09.12.2024 (Annexure Muktsar Sahib, under the provisions 2025 Date of decision : 11.08.2025 …….Petitioner ...….Respondents HON'BLE MR. JUSTICE SHEEL NAGU, CHIEF JUSTICE An oral prayer has been made for correction of the description of respondents No.2 and 3 to the effect that they should be substituted with the Amended Financial (Annexure , under the provisions AJAY PRASHER 2025.08.19 09:42 I attest to the accuracy and integrity of this document CWP-21681 of Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short, ‘SARFAESI Act’). 3. Muktsar Sahib assisting and handing over physical possession of the secured asset to the petitioner – 3.1 exchequer, banking and financial system, and, thus, prompt enforcement of recovery mechanism under the SARFAESI Act is paramount for liquidity in the system. 4. directs respondents No. (Annexure P Section 14 of the SARFAESI Act, by handing over physical possession of the secured asset to the petitioner possible, preferably within a period of thirty days. The petitioner Institution, thereafter, can proceed to adopt all possible legitimate means to liquidate the secured asset to recover the due amount. 5. aforesaid. in Bank of Maharashtra 7018-2022 (decided on 28.05.2024) be adhered to by the concerned authorities. 6. restraint/interim/final order which may have been passed by any judicial 21681-2025 of Section 14 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 uktsar Sahib (respondent No.2), has failed to discharge his statutory duty of assisting and handing over physical possession of the secured asset to the – Financial Institution. Non-Performing Assets (NPAs) are a huge burden on the public exchequer, banking and financial system, and, thus, prompt enforcement of recovery 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 7 to execute the order dated (Annexure P-4) passed by the District Magistrate, Sri Muktsar Sahib Section 14 of the SARFAESI Act, by handing over physical possession of the secured asset to the petitioner – Financial Institution, as expeditious possible, preferably within a period of thirty days. The petitioner Institution, thereafter, can proceed to adopt all possible legitimate means to liquidate the secured asset to recover the due amount. This petition for the time being Needless to say that the guidelines laid down by Coordinate Bench Bank of Maharashtra Vs. District Magistrate, Hisar and others, 2022 (decided on 28.05.2024) be adhered to by the concerned s. 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 -2- of Section 14 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 Malout, District Sri (respondent No.2), has failed to discharge his statutory duty of assisting and handing over physical possession of the secured asset to the Performing Assets (NPAs) are a huge burden on the public exchequer, banking and financial system, and, thus, prompt enforcement of recovery 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 09.12.2024 District Magistrate, Sri Muktsar Sahib, under Section 14 of the SARFAESI Act, by handing over physical possession of the 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 asset to recover the due amount. 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 restraint/interim/final order which may have been passed by any judicial of Section 14 of the Securitisation and Reconstruction of Financial Assets and Tehsildar Malout, District Sri (respondent No.2), has failed to discharge his statutory duty of assisting and handing over physical possession of the secured asset to the Performing Assets (NPAs) are a huge burden on the public exchequer, banking and financial system, and, thus, prompt enforcement of recovery mechanism under the SARFAESI Act is paramount for liquidity in In view of the above, this Court by way of writ of mandamus 09.12.2024 , under Section 14 of the SARFAESI Act, by handing over physical possession of the ly as Financial Institution, thereafter, can proceed to adopt all possible legitimate means to stands disposed of in the terms Needless to say that the guidelines 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 restraint/interim/final order which may have been passed by any judicial AJAY PRASHER 2025.08.19 09:42 I attest to the accuracy and integrity of this document CWP-21681 forum, in favour of the borrowers party to this lis August 11, 2025 Ajay Prasher 21681-2025 forum, in favour of the borrowers/guarantor/any aggrieved person, who is party to this lis. August 11, 2025 Whether speaking/reasoned Whether reportable -3- /guarantor/any aggrieved person, who is ( SHEEL NAGU ) CHIEF JUSTICE ( SANJIV BERRY ) JUDGE : Yes/No : Yes/No /guarantor/any aggrieved person, who is AJAY PRASHER 2025.08.19 09:42 I attest to the accuracy and integrity of this document