GIRNAR IMPEX LIMITED Vs. DISTRICT MAGISTRATE, LUDHIANA

JUDGEMENT

(1.) The petitioner has challenged an order dated 04.03.2016 passed by the District Magistrate under Section 14 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short SARFAESI Act) and the consequent action of the respondent -bank having taken possession of the secured asset(s).

(2.) The petitioner claims to be a tenant in respect of a portion of the secured asset(s). The petitioner's case is that there was an injunction of a Civil Court directing the debtor to maintain status -quo in respect of the property. The petitioner further alleges that the prior application under Section 14 of the SARFAESI Act was rejected on 16.09.2014 and that the present application by the bank was made suppressing these and other relevant facts.

(3.) The petitioner has already moved an application before the District Magistrate for setting aside the order dated 04.03.2016 which was passed without issuing notice to it. The petitioner states that the application has not been taken up for hearing. In the meantime, the property has been put to auction.