CWP-24969 IN THE HIGH COURT OF PUNJAB AND HARYANA Piramal Capital and Housing Finance Limited State of Haryana and others CORAM: Present: SHEEL NAGU, CHIEF JUSTICE 1. Institution aggrieved by non P-4) passed by the Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short, ‘SARFAESI Act’). petitioner is also challenging the letters/orders dated 22.09.2023 11.10.2023 (Annexures P 2. discharge possession of the secured asset to the petitioner 24969-2023 IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH Piramal Capital and Housing Finance Limited Versus State of Haryana and others CORAM: HON'BLE MR. JUSTICE SHEEL NAGU, CHIEF JUSTICE HON'BLE MR. JUSTICE SANJIV BERRY Mr. Harsh Chopra, Advocate, for the petitioner. Mr. Deepak Balyan, Addl. A.G., Haryana. Mr. Devender Rattan, Advocate, for respondent Nos. 4, 5, 6 & 7. **** SHEEL NAGU, CHIEF JUSTICE ( Oral ) The present petition has been filed by petitioner Institution aggrieved by non-execution of order dated ) passed by the District Magistrate, Yamuna Nagar Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short, ‘SARFAESI Act’). petitioner is also challenging the letters/orders dated 22.09.2023 11.10.2023 (Annexures P-7 and P-8) on various grounds. It is rather surprising that respondent Nos. 2 and 3 have discharge their statutory duty of assisting and handing over physical possession of the secured asset to the petitioner -1- IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH CWP-24969-2023 Date of decision : 26.08.2025 Piramal Capital and Housing Finance Limited (earlier known as DHFL) …….Petitioner ...….Respondents HON'BLE MR. JUSTICE SHEEL NAGU, CHIEF JUSTICE HON'BLE MR. JUSTICE SANJIV BERRY Mr. Deepak Balyan, Addl. A.G., Haryana. Mr. Devender Rattan, Advocate, respondent Nos. 4, 5, 6 & 7. ( Oral ) The present petition has been filed by petitioner – Financial execution of order dated 15.12.2020 (Annexure Yamuna Nagar, 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’). petitioner is also challenging the letters/orders dated 22.09.2023 8) on various grounds. respondent Nos. 2 and 3 have failed to statutory duty of assisting and handing over physical possession of the secured asset to the petitioner – Financial Institution. 2023 Date of decision : 26.08.2025 …….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 The and failed to statutory duty of assisting and handing over physical AJAY PRASHER 2025.09.03 17:15 I attest to the accuracy and integrity of this document CWP-24969-2023 -2- 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. 3. 3. In view of the above, this Court by way of writ of mandamus directs respondents No.2 and 3 to execute the order dated 15.12.2020 (Annexure P-4) passed by the District Magistrate, Yamuna Nagar, under Section 14 of the 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 – Financial Institution, thereafter, can proceed to adopt all possible legitimate means to liquidate the secured asset to recover the due amount. 4. This 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 ( SANJIV BERRY ) August 26, 2025 JUDGE Ajay Prasher Whether speaking/reasoned : Yes/No Whether reportable : Yes/No AJAY PRASHER 2025.09.03 17:15 I attest to the accuracy and integrity of this document