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Judgment
The challenge in this petition filed under Article 226 of Constitution of India is to the order dated 05.02.2021 (Annexure P-1) passed by respondent No.2 by invoking provision of Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act (for brevity, 'SARFAESI Act').
Learned counsel for the petitioner by referring to sub-section 3 of section 14 of SARFAESI Act submits that the Act provides for no remedy against an order u/s. 14 of SARFAESI Act.
For ready reference and convenience Section 14 (3) is reproduced below :
"14 (3) No act of the Chief Metropolitan Magistrate or the District Magistrate [any officer authorised by the Chief Metropolitan Magistrate or District Magistrate] done in pursuance of this section shall be called in question in any court or before any authority."
Section 14 (3) nowhere states that the order passed u/s. 14 of SARFAESI Act is final and shall not be questioned before any higher forum thereby leaving the aggrieved person to invoke power of judicial review under Article 226 of Constitution of India alone.
The Apex Court in Standard Chartered Bank Vs. V. Nobel Kumar and Ors., (2013) 9 SCC 620 has held thus :
"37. ...........The grievance of the respondent that it will be left with no remedy is, therefore, misplaced. As held by a Bench of three Judges in Mardia Chemicals Ltd. Vs. Union of India, (2004) 4 SCC 311, it would be open to the borrower to file an appeal under Section 17 any time after the measures are taken under Section 13(4) and before the date of sale / auction remedy of the property. The same would apply if the secured creditor resorts to Section 14 and takes possession of the property with the help of the officer appointed by the Magistrate."
In view of above, remedy of appeal u/s. 17 of SARFAESI Act is available which may be availed.
With the above-said observation, petition stands disposed of.