ICICI HOME FINANCE CO LTD vs STATE OF PUNJAB AND ORS

IN THE HIGH COURT OF PUNJAB & HARYANA AT CHANDIGARH 140 CWP-21010-2026 Date of Decision:- 14.07.2026 ICICI HOME FINANCE CO LTD ....Petitioner(s) Versus STATE OF PUNJAB AND ORS ...Respondent(s) CORAM: HON'BLE MR. JUSTICE JASGURPREET SINGH PURI HON'BLE MR. JUSTICE SANJIV BERRY Present: Mr. D.K. Singal, Advocate for the petitioner. Ms. Shruti, Assistant Advocate General, Punjab. **** SANJIV BERRY, J. 1. The present writ petition has been filed by petitioner aggrieved by non-execution of the order dated 13.10.2025 (Annexure P-2) passed by Chief Judicial Magistrate, Moga under the provisions of Section 14 of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act for brevity). 2. It is rather surprising that the concerned Officers have failed to discharge their statutory duty of assisting and handing over physical possession of the secured asset to the petitioner-financial institution. 3. Non-Performing Assets (NPAs) are a huge burden on the public exchequer, banking and financial system, and, thus, prompt enforcement of recovery mechanism under the SARFAESI Act is paramount for liquidity in the system. 4. In view of the above,