CENTURION BANK OF PUNJAB, NOW MERGED WITH HDFC BANK LTD. REP. BY ITS DEPUTY MANAGER MR. KISHORE HEGDE Vs. PRATHAM IMPEX PRIVATE LIMITED. REP. BY ITS MANAGING DIRECTOR, MR. MOHAN K. HIREGOUDAR, S/O MR. KRISHTE GOUDAR AND MR. PARESH MEHTA S/O MR.

JUDGEMENT

(1.) IN these writ petitions, Petitioner is challenging the orders dated 22.02.2011 and 24.02.2011 passed by the VIII Additional Chief Metropolitan Magistrate, Bangalore, in Crl. Misc. P. No. 617/2010.

(2.) CRIMINAL Miscellaneous Petition was filed by the Petitioner -bank under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, hereinafter referred to as 'the Act') seeking police protection to take possession of the secured asset. The miscellaneous case came to be allowed on 31.03.2010. However, as an application was filed in the meanwhile under Section 17(1) of the Act before the Debts Recovery Tribunal, the Petitioner -bank, it is urged, had not taken possession of the secured asset. According to the Petitioner -bank, it has taken possession of the secured asset on 17.02.2011 as S.A. No. 424/2010 filed by the Respondent came to be dismissed on 31.08.2010.

(3.) THE entire premises on which the Court below has proceeded is totally erroneous. Learned Magistrate has no jurisdiction to grant time to the borrower to pay the amount. The power under Section 14 of the Act is only limited and confined to granting the aid or protection as provided under the provisions to enable the creditor to take possession of the property. No further power or jurisdiction is vested with the learned Magistrate to grant time to the borrower to pay the amount or to restrain the bank from taking possession of the secured asset. It is only under Section 17(1) of the Act that the aggrieved person is entitled to agitate his grievance before the Tribunal.