Madhya Pradesh Court January 2016 Judgments

Virendra Pal Sisodiya Vs. Managing Director ICICI Bank Ltd. and Others

Court: Madhya Pradesh

Regard being had to the similitude in the controversy involved in the present cases, the writ petitions were analogously heard and by a common order, they are being disposed of by this Court. Facts of Writ Petition No.4041/2013 are narrated hereunder. In the present case, short point is involved whether under the provisions of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short SARFAESI Act, 2002), the Chief Judicial Magistrate is competent to take action keeping in view the Section 14 of the SARFAESI Act, 2002. Learned Government Advocate at the outset has drawn attention of this Court towards the judgment delivered by the Full Bench of Madras High Court in case of K. Arockiyaraj V. Chief Judicial Magistrate, Srivilliputhur and Anr., reported in AIR 2013 MADRAS 206. Paragraph Nos.24, 25, 26 and 27 of the aforesaid judgment read as under:- 24. 'The Executive Magistrate' is mentioned in Section 20, which reads as follows: "20. E...