CWP-27492-2022 IN THE HIGH COURT OF PUNJAB AND HARYANA Indian Overseas The District Magistrate, Pathankot and another CORAM: HON'BLE MR. JUSTICE SHEEL NAGU, CHIEF JUSTICE HON'BLE MR. JUSTICE SANJIV BERRY Present: SHEEL NAGU, CHIEF JUSTICE 1. by non-execution of order date Magistrate, the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short, ‘SARFAESI Act’). 2. has failed to discharge his statutor physical possession of the secured asset to the petitioner 2.1 exchequer, banking and financial system, and, thus, prompt enforcement of recovery mec the system. 2022 IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH Indian Overseas Bank Versus The District Magistrate, Pathankot and another CORAM: HON'BLE MR. JUSTICE SHEEL NAGU, CHIEF JUSTICE HON'BLE MR. JUSTICE SANJIV BERRY Mr. Sanjiv Gupta KKR, Advocate, Mr. Vipin Pal Yadav, Addl. Advocate General, Punjab. **** SHEEL NAGU, CHIEF JUSTICE ( Oral ) The present petition has been filed by petitioner execution of order dated 02.06.2022 Magistrate, Pathankot (respondent No.1), under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short, ‘SARFAESI Act’). It is rather surprising that Tehsildar, Pathankot has failed to discharge his statutory duty of assisting and handing over physical possession of the secured asset to the petitioner 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. -1- IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH CWP-27492-2022 Date of decision : 29.08.2025 …….Petitioner The District Magistrate, Pathankot and another ...….Respondents CORAM: HON'BLE MR. JUSTICE SHEEL NAGU, CHIEF JUSTICE HON'BLE MR. JUSTICE SANJIV BERRY Mr. Sanjiv Gupta KKR, Advocate, for the petitioner – Bank. Mr. Vipin Pal Yadav, Addl. Advocate General, Punjab. ( Oral ) The present petition has been filed by petitioner – Bank aggrieved 22 (Annexure P-2) passed by District ), under the provisions of Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short, ‘SARFAESI Act’). Tehsildar, Pathankot (respondent No. y duty of assisting and handing over physical possession of the secured asset to the petitioner – Bank. Performing Assets (NPAs) are a huge burden on the public exchequer, banking and financial system, and, thus, prompt enforcement of hanism under the SARFAESI Act is paramount for liquidity in 2022 Date of decision : 29.08.2025 …….Petitioner ...….Respondents Bank aggrieved ) passed by District Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of (respondent No.2), y duty of assisting and handing over Performing Assets (NPAs) are a huge burden on the public exchequer, banking and financial system, and, thus, prompt enforcement of hanism under the SARFAESI Act is paramount for liquidity in NAROTAM DASS 2025.09.04 10:23 I attest to the accuracy and authenticity of this order/judgment CWP-27492-2022 3. directs respondents No.3 and 4 to ex (Annexure P SARFAESI Act, by handing over physical possession of the secured asset to the petitioner of thirty days. The petitioner possible leg amount. 4. aforesaid. Needless to say that the guidelines laid down by Coordinate Bench in Bank of Maharashtra Vs. District Ma 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/guarantor/any aggrieved party, who is party to this lis. August 29, 2025 narotam Whether speaking/reasoned Whether 2022 In view of the above, this Court by way of writ of mandamus directs respondents No.3 and 4 to execute the order dated 02 (Annexure P-2) passed by respondent No. SARFAESI Act, by handing over physical possession of the secured asset to the petitioner – Bank, as expeditiously as possible, preferably within a period of thirty days. The petitioner – Bank, thereafter, can proceed to adopt all possible legitimate means to liquidate the secured asset to recover the due This petition for the time being stands disposed of in the terms aforesaid. Needless to say that the guidelines laid down by Coordinate Bench Bank of Maharashtra Vs. District Ma 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 restraint/interim/final order which may have been passed by any judicial um, in favour of the borrowers/guarantor/any aggrieved party, who is party August 29, 2025 Whether speaking/reasoned Whether reportable -2- In view of the above, this Court by way of writ of mandamus ecute the order dated 02.06.20 ) passed by respondent No.1 under Section 14 of the SARFAESI Act, by handing over physical possession of the secured asset to Bank, as expeditiously as possible, preferably within a period Bank, thereafter, can proceed to adopt all itimate means to liquidate the secured asset to recover the due This petition for the time being stands disposed of in the terms aforesaid. Needless to say that the guidelines laid down by Coordinate Bench Bank of Maharashtra Vs. District Magistrate, Hisar and others (CWP 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 restraint/interim/final order which may have been passed by any judicial um, in favour of the borrowers/guarantor/any aggrieved party, who is party ( SHEEL NAGU ) CHIEF JUSTICE ( SANJIV BERRY ) JUDGE Yes/No Yes/No In view of the above, this Court by way of writ of mandamus .06.2022 ion 14 of the SARFAESI Act, by handing over physical possession of the secured asset to Bank, as expeditiously as possible, preferably within a period Bank, thereafter, can proceed to adopt all itimate means to liquidate the secured asset to recover the due This petition for the time being stands disposed of in the terms aforesaid. Needless to say that the guidelines laid down by Coordinate Bench (CWP- 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 restraint/interim/final order which may have been passed by any judicial um, in favour of the borrowers/guarantor/any aggrieved party, who is party NAROTAM DASS 2025.09.04 10:23 I attest to the accuracy and authenticity of this order/judgment