STATE BANK OF INDIA Vs. STATE OF WEST BENGAL

JUDGEMENT

(1.) The writ petition is at the instance of a bank challenging the inaction on the part of the District Magistrate in taking steps in response to the request made by the bank under Sec. 14 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (herein after referred to as 'the Act' for the sake of brevity).

(2.) The facts leading to the request made by the bank are as follows:-

(3.) The respondent no. 3, borrower availed loan facility from the bank in November, 2007. As the loan amount was not paid in accordance with the loan agreement, the account of the said respondent was marked as non performing asset in July, 2014. A notice was issued by the bank demanding payment from the borrower. As the borrower failed to repay the loan amount, notice under Sec. 13 (4) of the Act was issued in November, 2014. As the bank intends to take possession of the secured asset, a request was made before the District Magistrate under Sec. 14 (1) of the Act on 14/10/2022 along with the required affidavit affirmed by the authorized officer of the bank.