Supreme Court of India

Balkrishna Rama Tarle Dead Thr Lrs & Anr v. Phoenix Arc Private Limited & Ors

Neutral citation
Reported as [2022] 13 S.C.R. 437
Bench M. R. Shah and Krishna Murari JJ.
Decided 26 September 2022

INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.

What the Court ordered

In view of the above and for the reasons stated above, we are of the opinion that the High Court has not committed any error in passing the judgment and order and directing the designated authority to dispose of the application under Section 14 of the SARFAESI Act.

Judgment, page 14

From the headnote

Securitisation and Reconstruction of Financial Asse ts and Enforcement of Security Interest Act, 2002: s. 14 – Chief Metropolitan Magistrate or District Magistrate to a ssist secured creditor in taking possession of secured asset – Scop e, ambit, and jurisdiction of the District Magistrate/designated a uthority u/s. 14 – On facts, application u/s 14 by the secured credi tor seeking assistance of designated authority for taking physi cal possession of the secured assets – Petitioner claiming to be a tenant in respect of the part of the secured assets sought to interve ne in the said

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