RELIANCE CAPITAL LIMITED Vs. STATE OF GUJARAT

JUDGEMENT

(1.) Heard learned advocate Mr. Abhichandani for the petitioner and learned Assistant Government Pleader Ms. Divyangna Jhala for the respondent state.

(2.) It is with the limited prayer that the petitioner had filed the present petition. What is prayed is to issue direction to respondent No.2-the District Magistrate, Rajkot, to expeditiously decide and dispose of the application of the petitioner filed under section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act , 2002 (SARFAESI Act ).

(3.) In the process of taking action against the original borrower by invoking the provisions of SARFAESI Act , the petitioner-financial company applied before the District Magistrate under section 14 of the SARFAESI Act for seeking assistance to secure possession of the mortgaged assets. The application before the District Magistrate, Rajkot was filed before long time. It is the case of the petitioner that despite passage of time beyond permissible under the statute, the District Magistrate has not heard and decided the application.