Supreme Court of India
Balkrishna Rama Tarle Dead Thr Lrs & Anr v. Phoenix Arc Private Limited & Ors
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What the Court ordered
In view of the above and for the reasons stated above, we are of the opinion that the High Court has not committed any error in passing the judgment and order and directing the designated authority to dispose of the application under Section 14 of the SARFAESI Act.
Judgment, page 14
From the headnote
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002: s. 14 – Chief Metropolitan Magistrate or District Magistrate to assist secured creditor in taking possession of secured asset – Scope, ambit, and jurisdiction of the District Magistrate/designated authority u/s. 14 – On facts, application u/s 14 by the secured creditor seeking assistance of designated authority for taking physical possession of the secured assets – Petitioner claiming to be a tenant in respect of the part of the secured assets sought to intervene in the said proceedings…
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