118 IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH CWP-24544-2025 Date of decision: 25.08.2025 JANA SMALL FINANCE BANK LIMITED ...PETITIONER Versus STATE OF PUNJAB AND OTHERS ...RESPONDENTS CORAM: HON'BLE MR. JUSTICE SHEEL NAGU, CHIEF JUSTICE HON'BLE MR. JUSTICE SANJIV BERRY Present: Mr. Satish Bhardwaj, Advocate for the petitioner. Mr. Vipin Pal Yadav, Addl. A.G. Punjab. * * * * SHEEL NAGU, C.J. (Oral) The present writ petition has been filed by petitioner-Financial Institution aggrieved by non-execution of the order dated 22.11.2024 (Annexure P-3) passed by the District Magistrate, Ludhiana, under the provisions of Section 14 of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act for brevity). 2. It is rather surprising that District Magistrate, Ludhiana (Respondent No.2) has failed to discharge his statutory duty of assisting and handing over the physical possession of the secured asset to the petitioner-Financial Institution. 2.1 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. KANIKA 2025.08.28 09:55 I attest to the accuracy and integrity of this document 118 CWP-24544-2025 -2- 3. In view of the above, this court by way of writ of mandamus directs Respondent No.2 to execute the order dated 22.11.2024 (Annexure P-3) passed under Section 14 of 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 30 days. The petitioner-Financial Institution, thereafter, can proceed to adopt all possible legitimate means to liquidate the secured asset to recover the due amount. 4. The petition for the time being stands disposed of in the terms aforesaid. Needless to say that the guidelines laid down by Coordinate Bench in Bank of Maharashtra Vs. District Magistrate, Hisar And Others [CWP-7018-2022 decided on 28.05.2024] be adhered to by the concerned authorities. 5. 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 forum, in favour of the borrowers/ guarantor/ any aggrieved person, who is party to this lis. (SHEEL NAGU) CHIEF JUSTICE 25.08.2025 (SANJIV BERRY) kanika JUDGE Whether speaking/reasoned Yes/No Whether reportable Yes/No KANIKA 2025.08.28 09:55 I attest to the accuracy and integrity of this document