VIJAYANAND SRINIVASAN Vs. PUNJAB NATIONAL BANK

JUDGEMENT

(1.) The petitioner, who is an auction purchaser, has filed this writ petition seeking issuance of a writ of mandamus directing the respondent to deliver and hand over the vacant possession of land and building situated at Villa No.75, "Palm Villas", Nallambakkam Village, Chengalpet Taluk and District measuring an extent of 2578.1 square feet of undivided share of land in Survey No.150/1APart, 1B Part, 1C Part, 1D, 2 part, 3, 4, 157/6, 7, 8, 9, 201/7B part, 8, 9 part, 202/1 part, 2, 204/1A, 1B, 2 part, 7A, 7B, 8 part, 215/1, 2 part, 216/1, 2, 3, 217/1 part, 2 part and 218/1 part, (patta No.10872) admeasuring approximately 12.80 acres situated at Malrojapuram, Nellikuppam Road, Nallambakkam Village, Chegalpattu Taluk, Kancheepuram District.

(2.) The petitioner is the successful auction purchaser of secured assets sold by the respondent/bank under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 [for brevity, "the SARFAESI Act"). It is averred that despite the respondent bank having received the full sale consideration and issuing a sale certificate in favor of the petitioner on June 3, 2025, possession of the property has yet to be delivered to the petitioner. It is alleged that the respondent/bank is not pursuing the application for taking physical possession and handing over the same to the petitioner.

(3.) Learned counsel for the respondent/bank submitted that though an application has been filed by the bank in August, 2025 under Sec. 14 of the SARFAESI Act before the Chief Judicial Magistrate, Chengalpattu, the same has till date not been numbered. He further contended that approximately 200 cases remain pending before the said Court for registration and disposal, thereby violating the time limits prescribed under the SARFAESI Act.