- (1.) The petitioner alleging himself to be an Ex-Director of the company by the name of M/s Parth Dairy Private Ltd.-respondent No.5 has approached this Court challenging the order dated 25.01.2018 passed by the Additional District Magistrate (Finance & Revenue), Moradabad under Section 14 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short 'SARFAESI Act') seeking assistance in taking over physical possession of the hypothecated property as security to the loan taken by the company.
(2.) We see no reason for the petitioner to file the writ petition when he himself has stated in his objection before the Additional District Magistrate that none of his personal property is hypothecated or mortgaged with the bank in lieu of security to the loan taken by the company.
(3.) In this factual scenario, this writ petition challenging the aforesaid order passed under Section 14 of the Act is not maintainable at the behest of the petitioner and the same is, accordingly, dismissed.;