# ASSET CARE AND RECONSTRUCTION ENTERPRISES LIMITED vs STATE OF PUNJAB AND ORS

Court: Punjab and Haryana High Court
Date: 2026-07-10
Citation: CWP 20636/2026
Petitioner: ASSET CARE AND RECONSTRUCTION ENTERPRISES LIMITED
Respondent: STATE OF PUNJAB AND ORS

[Official PDF on Punjab and Haryana High Court website](https://livedb9010.phhc.gov.in/public/judgments/order-pdf?case_type=CWP&case_no=20636&case_year=2026&order_date=2026-07-10&order_type=FINAL)

## Judgment text (excerpt)

115-CWP-20636-2026 IN THE HIGH COURT OF PUNJAB & HARYANA AT CHANDIGARH CWP-20636-2026 Date of decision: 10.07.2026 Asset Care and Reconstruction Enterprises ….Petitioner. Versus State of Punjab and ors ....Respondents. CORAM: HON’BLE MR. JUSTICE JASGURPREET SINGH PURI HON’BLE MR. JUSTICE SANJIV BERRY Present:- Mr. Abhinav Sood, Advocate, for the petitioner. Ms. Shruti, AAG, Punjab. ..… SANJIV BERRY, J. 1. The petitioner-Company is before this Court invoking writ as well as supervisory jurisdiction under Article 226/227 Constitution of India, being aggrieved by in-action on the part of respondent No.2-Chief Judicial Magistrate, Ludhiana, to decide the application submitted by petitioner-Company u/s 14 of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short the SARFAESI Act) which is pending since 04.10.2025, and the same is fixed for today itself, i.e. 10.07.2026. 2. It is submitted that no SA is pending before DRT/DRAT. 3. It is stated in the application that the respondents No. 3 to 5-borrower(s) had availed a loan facility of Rs. 3,50,000/- from Indiabulls Housing Finance Limited (now known as Sammaan Capital Limited) and 

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