1 2026:CGHC:23496 NAFR HIGH COURT OF CHHATTISGARH AT BILASPUR WP227 No. 556 of 2026 1 - Samman Capital Limited (Previously Known As Indiabulls Housing Finance Limited) Through Rajesh Chauhan S/o S.P. Singh Chauhan Aged About 50 Years Working As Legal Manager, Having Registered Address At 5th Floor, Building No. 27, K.G. Marg , Connaught Palace New Delhi -110001 (Present Correct Name And Address) ... Petitioner(s) versus 1 - Pranay Chouradia Pro. Kreeti Ventures Shop No. 111, 1st Floor, Ambuja Mall Vidhan Sabha Road Mowa, Raipur (C.G.) A L S O A T House No. 63, Avani Avenue Daldal Seoni, Mowa Raipur (C.G.) 2 - Praneeta Chouradia House No. 63, Avani Avenue Daldal Seoni, Mowa Raipur (C.G.) A L S O A T Municipal No. 26, Commercial Unit No. Ccrp 0417 4th Floor, Ambuja Mall City Center Raipur, Khasra No. 773, 774/1, 941, 942, P H No. 109/44 Kusha Bhau Thakre, Ward No. 26 Vidhan Sabha Road Near Saddu Nala Mouja Mowa Raipur C.G. 3 - Yamini Karnik House No. 63 Avani Avenue Daldal Seoni Mowa, Raipur C.G. (Respondent Present Correct Name And Address) Party S.N. Correctly Mentioned ... Respondent(s) SUGUNA DUBEY Digitally signed by SUGUNA DUBEY Date: 2026.05.26 16:52:03 +0530 2 For Petitioner(s) : Mr.Ritesh Sharma, Advocate through VC For Respondent(s) : None present. (Hon’ble Shri Justice Narendra Kumar Vyas) Order on Board 26/05/2026 Heard on admission. 2. The present petition under Article 227 of the Constitution of India has been preferred by the petitioner/Finance Company seeking a direction to the learned Additional Chief Judicial Magistrate, Raipur, to expeditiously decide the application filed by the petitioner under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, “the SARFAESI Act”). 3. Learned counsel for the petitioner submits that the petitioner had extended financial assistance to the private respondents and, upon default in repayment of the loan amount, the account was classified as Non-Performing Asset (NPA). Thereafter, proceedings under the provisions of the SARFAESI Act were initiated and an application under Section 14 of the SARFAESI Act was filed before the competent authority on 22/03/2025 seeking assistance for taking physical possession of the secured asset. 4. It is further submitted that though Section 14 of the SARFAESI Act contemplates disposal of such application within a stipulated period 3 of 30 days, extendable up to 60 days for reasons to be recorded, the application is still pending consideration before the learned Additional Chief Judicial Magistrate, Raipur. It is contended that such prolonged pendency defeats the very object of the SARFAESI Act, which has been enacted for expeditious recovery of secured debts. 5. Learned counsel for the petitioner has placed reliance upon the judgment of the Apex Court in R.D. Jain and Company Vs. Capital First Limited and Others, reported in (2023) 1 SCC 675, as also the orders passed by this Court in similar matters directing expeditious consideration of applications preferred under Section 14 of the SARFAESI Act. 6. Considering the submissions advanced by learned counsel for the petitioner and upon perusal of the material available on record, without entering into the merits of the controversy, this Court deems it appropriate to dispose of the present petition with a direction to the learned Additional Chief Judicial Magistrate, Raipur, to consider and decide the petitioner’s application filed under Section 14 of the SARFAESI Act, strictly in accordance with law, as expeditiously as possible, preferably within a period of 45 days from the date of production of a certified copy of this order, if there is no legal impediment. 7. It is made clear that this Court has not expressed any opinion on the merits of the case and the concerned authority shall decide the 4 matter independently in accordance with law. 8. With the aforesaid observation and direction, the present petition stands disposed of. Sd/- (Narendra Kumar Vyas) Judge