PUNJAB NATIONAL BANK Vs. STATE OF UTTAR PRADESH

JUDGEMENT

(1.) Petitioner, Punjab National Bank has approached this Court challenging the order dated 12.4.2016 passed by respondent no.2-Additional District Magistrate (Finance & Revenue) Shahjahanpur rejecting the application made by the petitioner under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short the SARFAESI Act, 2002) for obtaining possession of the secured assets.

(2.) In view of the fact that the issue being raised is a pure question of law and there is no factual controversy, as such we are proceeding to decide the writ petition finally without putting private respondent no.3 to notice. However, its right to seek variations/modifications in the order, in case he feels aggrieved, is being kept reserved.

(3.) Factual matrix of the case in brief are as under.