INDIA RESURGENCE ARC PRIVATE LIMITED Vs. DISTRICT MAGISTRATE

JUDGEMENT

(1.) By this petition under Art. 226 of the Constitution of India, the petitioner has prayed for the following reliefs:-

(2.) It is the case of the petitioner that the petitioner has executed a Deed of Assignment on 5/11/2019 and acquired the debt of the original lender - Religare Finvest Limited.

(3.) Learned advocate Mr. Sandip C. Bhatt appearing for the petitioner submitted that in view of the provisions of sub- sec. (4) of Sec. 5 of the SARFAESI Act, the name of the petitioner is required to be substituted in the order dtd. 10/9/2018 passed by the respondent No.1 because the petitioner has executed the Deed of Assignment with the original lender in the year 2019 after passing of the order under Sec. 14 of the SARFAESI Act.