DINESH KUMAR AGARWAL Vs. STATE OF WEST BENGAL

JUDGEMENT

(1.) For enforcing its security interest, the respondent bank approached the Chief Judicial Magistrate, Barasat, North 24-Parganas (hereafter the said Magistrate) with an application under section 14 of the Securitization and Reconstruction of the Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as the Act). The application was registered as M.P. Case No. 169/2011. An order was passed on 16th September, 2011 by the said Magistrate directing the Officer-in-Charge, Baguihati Police Station "to take actual possession of the immovable property/secured assets mentioned in the schedule of the petition along with Title Deeds and other documents i.c.w. the said assets from the O.P. and deliver the same to the authorized representative of the applicant/Bank....." It was further observed in the order that should there be resistance from any quarter, the officer-in-charge shall be at liberty to use so much force that is necessary for the purpose of taking possession of the secured asset. For the purpose of submission of report, the application was made returnable on 9th December, 2012. On the returnable date i.e. 9th December, 2012, the said Magistrate recorded that the petitioner has not taken steps and directed the M.P. Case No. 169/2011 to be dropped.

(2.) Despite termination of proceedings initiated purportedly under section 14 of the Act, the authorized officer of the bank with the assistance of the said officer-in-charge took over possession of the secured asset on 6th November, 2012.

(3.) It is not in dispute that the bank had deposited police costs amounting to Rs. 35,149/- pursuant to which assistance was extended for the purpose of taking over possession of the secured asset. Document to this effect has been produced by the learned counsel for the bank, which shall be retained with the records.