M/S ICICI BANK LTD. vs DISTRICT MAGISTRATE

HIGH COURT OF UTTARAKHAND AT NAINITAL

Writ Petition Misc. Single No. 3560 of 2025
29 May, 2026
M/s ICICI Bank Ltd.

--Petitioner

Versus
District Magistrate & others

--Respondents

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Presence:-
Mr. Arvind Vashisth, learned Senior Advocate assisted by Ms.
Monika Pant, learned counsel for the petitioner through V.C.
Mr. N.K. Papnoi, learned Standing Counsel for the State.
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Hon’ble Pankaj Purohit, J.
Petitioner has moved this writ petition seeking
for a direction in the nature of mandamus to the
respondent nos.1 to 3 to take the physical possession of
the petitioner’s secured assets i.e. Schedule Property i.e.
(A) Flat No.B-102, Meridian Heights, Municipal No.2-C &
208/143, Kalidas Road, Dobhalwala Road Uttarakhand
(B) Shop No.3 Part of property bearing Municipal No.6
Cross Road Dehradun 248001 to the petitioner Bank in
respect of NPA account of respondent no.4 under Section
14 of the Securitisation and Reconstruction of Financial
Assets and Enforcement of Security Interest Act, 2002
(For short “the SARFAESI, Act, 2002) in pursuance of the
order dated 28.12.2023 passed by respondent no.1 in
application being Case No.136/Sec-14 of 2023 [ICICI
Bank Ltd. vs. Invent Pharma Corporation and Others]
under Section 14 of the SARFAESI Act, 2002 and to
forward the aforesaid asset to the petitioner/secured
creditor.
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2. Brief facts of the case are that petitioner, ICICI
Bank Ltd., has filed the present writ petition seeking a
direction to the respondent authorities to provide
necessary police and administrative assistance for taking
physical possession of certain secured assets in
pursuance of an order passed under Section 14 of the
SARFAESI Act, 2002. It is stated that respondent no. 4,
Invent Pharma Incorporation, had availed credit facilities
from the petitioner-bank, which were secured by
mortgage of certain immovable properties, while
respondent nos. 5 to 10 stood as guarantors and/or
mortgagors. According to the petitioner, upon default in
repayment of the loan facilities, the account was
classified as a Non-Performing Asset (NPA) on
24.05.2023. Thereafter, proceedings under the SARFAESI
Act were initiated by issuance of a demand notice under
Section 13(2), followed by measures under Section 13(4)
of the Act. Since physical possession of the secured
assets could not be obtained, the petitioner approached
the District Magistrate, Dehradun under Section 14 of
the Act, whereupon an order dated 28.12.2023 was
passed in its favour for taking possession of the secured
assets.
3. The borrowers challenged the SARFAESI
proceedings before the Debts Recovery Tribunal and also
instituted proceedings before this Court, which were
disposed of on the basis of a settlement between the
parties. The petitioner asserts that despite the order
passed under Section 14 of the Act and repeated
representations made to the authorities concerned,
physical possession of the secured assets has not yet
been delivered. Aggrieved thereby, the petitioner has
preferred the present writ petition seeking appropriate
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directions to respondent nos. 1 to 3 for execution of the
order dated 28.12.2023 and for handing over physical
possession of the secured assets.
4. Learned counsel for the petitioner-bank
submitted that respondent no.4 availed various credit
facilities from the petitioner-bank, which were secured by
mortgage of the properties described in the writ petition
and further backed by personal guarantees. Upon
persistent default in repayment, the loan account was
classified as a Non-Performing Asset (NPA), whereafter
proceedings under the SARFAESI Act, 2002 were
initiated by issuance of demand notice under Section
13(2), followed by measures under Section 13(4). It was
contended that all statutory requirements prescribed
under the Act and the Rules framed thereunder were
duly complied with by the petitioner-bank.
5. It was further submitted that since the
borrowers failed to hand over possession of the secured
assets, the petitioner approached the District Magistrate,
Dehradun under Section 14 of the SARFAESI Act. The
said application was allowed vide order dated 28.12.2023
directing assistance for taking possession of the secured
assets. According to the petitioner, despite the said order
attaining finality and despite repeated representations
made to the authorities concerned, physical possession of
the secured assets has not been delivered to the
petitioner-bank till date. It was argued that such inaction
on the part of respondent nos. 1 to 3 defeats the very
object of the SARFAESI Act, which envisages expeditious
enforcement of security interests and recovery of public
money.
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6. In view of the statement made by learned
counsel for the parties and considering the nature of the
relief sought, the present writ petition is disposed of with
a direction to respondent nos.1 and 2 to provide
necessary police and administrative assistance to the
petitioner-Bank for taking possession of the secured
asset mortgaged by respondent no. 4, in accordance with
law, within a period of thirty days from the date of
production of a certified copy of this order.
7. Pending application, if any, stands disposed of
accordingly.


( Pankaj Purohit, J .)
27.05 .2026

R.Dang














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