# ASSET RECONSTRUCTION COMPANY INDIA LIMITED vs STATE OF PUNJAB AND ORS

Court: Punjab and Haryana High Court
Date: 2026-07-10
Citation: CWP 20733/2026
Petitioner: ASSET RECONSTRUCTION COMPANY INDIA 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=20733&case_year=2026&order_date=2026-07-10&order_type=FINAL)

## Judgment text (excerpt)

121-CWP-20733-2026 -1- IN THE HIGH COURT OF PUNJAB & HARYANA AT CHANDIGARH CWP-20733-2026 Date of decision: 10.07.2026 Asset Reconstruction Company (India) Limited (ARCIL) ….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 21.02.2025. 2. It is submitted that no SA is pending before DRT/DRAT. 3. It is stated in the application that the respondents No. 3 and 4-borrower(s) had availed a loan facility of Rs. 7,25,000/- from Indiabulls Housing Finance Limited and on default of payment, the loan PREETI 2026.07.13 09:18 I attest to the accuracy

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