Court No. - 7
Case :- MATTERS UNDER ARTICLE 227 No. - 4748 of 2021 Petitioner :- Yes Bank Ltd Respondent :- Mk Exports And 6 Others Counsel for Petitioner :- Kartikeya Saran
Hon'ble Ajit Kumar,J.
Heard Sri Kartikeya Saran, learned counsel for the petitioner and perused the record.
By means of this writ petition under Article 227 of the Constitution, the petitioner has prayed for following relief as substantial one :-
"(ii). Issue an appropriate writ, order or direction, commanding the Court of Chief Judicial Magistrate, Gautam Budh Nagar i.e. Chief Judicial Magistrate, Gautam Budh Nagar to expedite the proceedings of the Misc. Application No. 916 of 2020 -Yes Bank Ltd. v. MK Exports and Others, filed under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act), and to conclude the proceedings of the said case expeditiously, preferably within a time period of one month.."
It is submitted by the learned counsel for the petitioner that as per the mandate contained vide Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, the matter pending before the Chief Judicial Magistrate ought to have been disposed of within time frame prescribed for, however, the matter has remained pending even after the opposite party has put in appearance.
Considering overall facts and circumstances of the case, this petition is disposed of with a direction to the court concerned to decide the proceedings of the Misc. Application No. 916 of 2020 -Yes Bank Ltd. v. MK Exports and Others, filed under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) strictly in accordance with law and after giving full opportunity of hearing to the parties concerned, as expeditiously as possible positively within a period of two months from the date of production of copy of this order.
Copy of the order available on the official website of the High Court will be taken to be authentic one.
Order Date :- 30.9.2021 Sanjeev