ASSET RECONSTRUCTION COMPANY (INDIA) LTD Vs. DISTRICT MAGISTRATE/ DISTRICT COLLECTOR THIRUVALLUR, THIRUVALLUR DISTRICT

JUDGEMENT

(1.) The commonality of the issue makes us to dispose of all these writ petitions by a single order.

(2.) These writ petitions have been filed by the lenders aggrieved over the orders passed by the authority on the applications filed seeking to invoke Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, 'the SARFAESI Act') towards handing over of the physical possession of the secured assets.

(3.) In W.P.No.29972 of 2018, the application filed by the petitioner was rejected by taking note of the criminal complaints in the form of First Information Report pending at the relevant point of time. Only the residential properties are to be taken possession of. There are pending suits touching upon the very same property. The suit filed by the alleged tenant is also pending. Accordingly, it was held that the request cannot be considered, particularly when the tenancy Act would prevail over the SARFAESI Act. It is also seen that the petitioner initiated fresh action thereafter. A notice invoking Section 13(4) of the SARFAESI Act was also put to challenge and the interim conditional order granted has been complied with by the private respondents. However, such an action was initiated by the petitioner without prejudice to the action taken already.