CAPITAL FIRST LTD Vs. THE STATE OF MAHARASHTRA

JUDGEMENT

(1.) Rule. Rule made returnable forthwith. Heard by consent.

(2.) The Petitioner, who is the secured creditor within the meaning of Section 2(1)(zd) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act , 2002 (In short 'SARFAESI ' Act) has prayed for appropriate writ, order or direction including writ in the nature of mandamus, directing the Chief Metropolitan Magistrate, Esplanade Court, Mumbai to dispose of its application filed under Section 14 of the SARFAESI Act in time bound manner, within reasonable period as this Court may deem fit and proper.

(3.) The Petitioner would assert his right to get its applications decided within a time bound period in view of amended provisions of Section 14 of the SARFAESI Act whereby the Chief Metropolitan Magistrate or District Magistrate is required to pass suitable orders within 30 days from the date of application, which period could be extended not exceeding in aggregate 60 days.