Authority: High Court of Punjab & Haryana at Chandigarh
Order Date: 16 July 2026
Case Overview
- Petitioner: ICICI Home Finance Company Limited.
- Respondents: State of Punjab and others.
- The writ petition was filed due to non‑execution of an order dated 04‑April‑2026 issued by the Chief Judicial Magistrate, Jalandhar, under Section 14 of the SARFAESI Act (Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002).
- The petitioner alleged that the concerned officers failed to assist in handing over physical possession of the secured asset, hindering recovery.
- The Court observed that NPAs burden the public exchequer and stressed prompt enforcement under the SARFAESI Act for system liquidity.
Final Outcome
- The Court, by way of a writ of mandamus, directs Respondents No.3 and No.4 to provide all necessary assistance, including police help, to the Collector appointed under the 04‑April‑2026 order and to execute the order within 30 days.
- The petition is disposed of subject to any existing restraint, interim, or final orders from other judicial forums favoring borrowers, guarantors, or aggrieved parties.
- Respondents No.3 must file a compliance report with the Court Registry within 45 days of this order; any deficiencies will be referred to the appropriate Bench under the IOIN category.
- The order does not impede any party’s right to seek remedies under the SARFAESI Act before the Debt Recovery Tribunal (DRT) or Debt Recovery Appellate Tribunal (DRAT).
- The Court reiterated adherence to guidelines from Bank of Maharashtra Vs. District Magistrate, Hisar And Others (CWP‑7018‑2022, decided 28‑May‑2024).
Topics: SARFAESI Enforcement, Banking Recovery, Judicial Directions