R.D. JAIN Vs. CAPITAL FIRST LTD

JUDGEMENT

(1.) Feeling aggrieved and dissatisfied with the impugned judgment and order dtd. 22/12/2017 passed by the High Court of Judicature at Bombay in Writ Petition No. 1961/2017, by which, the Division Bench of the High Court while interpreting Sec. 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement Security Interest Act, 2002 (hereinafter referred to as the "SARFAESI Act") has held that (i) the District Magistrate, Chief Metropolitan Magistrate is not a persona designata for the purposes of Sec. 14 of the SARFAESI Act; (ii) the expression "District Magistrate" and the "Chief Metropolitan Magistrate" as appearing in Sec. 14 of the SARFAESI Act shall deem to mean and include Additional District Magistrate and Additional Chief Metropolitan Magistrate for the purposes of Sec. 14 of the SARFAESI Act, the borrower has preferred the present appeal.

(2.) The facts leading to the present appeal in a nutshell are as under: -

(3.) Shri Purvish Jitendra Malkan, learned Advocate has appeared on behalf of the appellant - borrower and Shri Sachin Patil, learned Advocate has appeared on behalf of the State. None has appeared on behalf of the respondent No. 1 - secured creditor.