S. Senthilathipan vs The Authorised Officer

P. JyothimaniI, J.—Heard the learned Counsel for the Petitioner and the learned Counsel for the Respondent.

Admittedly, the proceedings u/s 13 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, (hereinafter referred to as ''the Act'') has been initiated against the Petitioner and has already moved the Debts Recovery Tribunal and as submitted by the learned Counsel for the Petitioner, the tribunal after hearing the parties has also reserved orders. In the meantime, the Petitioner anticipated that the Respondent is likely to take physical possession of the property without waiting for the order of the Tribunal. Such prayer cannot be actually granted at this stage. When once the tribunal under the Act is seized of the matter, it is not for this Court to give any direction. Needless to state that when the matter is pending before the Debts Recovery Tribunal, the Respondent cannot certainly take such forceful possession except by following the procedure which is contemplated u/s 14 of the Act, which is as follows:

Chief Metropolitan Magistrate or District Magistrate to assist secured creditor in taking possession of secured asset.-

(1) Where the possession of any secured asset is required to betaken by the secured creditor or if any of the secured asset is required to be sold or transferred by the secured creditor under the provisions of this Act, the secured creditor may, for the purpose of taking possession or control of any such secured asset, request, in writing, the Chief Metropolitan Magistrate or the District Magistrate within whose jurisdiction any such secured asset or other documents relating thereto may be situated or found, to take possession thereof, and the Chief Metropolitan Magistrate or, as the case may be, the District Magistrate shall, on such request being made to him-

(a) take possession of such asset and documents relating thereto; and

(2) For the purpose of securing compliance with the provisions of Sub-section (1), the Chief Metropolitan Magistrate or the District Magistrate may take or cause to be taken such steps and use, or cause to be used, such force, as may, in his opinion, be necessary.

(3) No act of the Chief Metropolitan Magistrate or the District Magistrate done in pursuance of this section shall be called in question in any Court or before any authority

In such view of the matter, except making the above said observation, there is no further relief granted. The writ petition stands closed accordingly. No costs. Consequently, connected miscellaneous petition is closed.