SBFC FINANCE LTD vs CHIEF JUDICIAL MAGISTRATE, DISTRICT LUDHIANA, PUNJAB AND ORS

IN THE HIGH COURT OF PUNJAB & HARYANA AT CHANDIGARH 135 CWP-20854-2026 Date of Decision:- 13.07.2026 SBFC FINANCE LTD ....Petitioner(s) Versus CHIEF JUDICIAL MAGISTRATE, DISTRICT LUDHIANA, PUNJAB AND ORS ...Respondent(s) CORAM: HON'BLE MR. JUSTICE JASGURPREET SINGH PURI HON'BLE MR. JUSTICE SANJIV BERRY Present: Mr. Kanwar Arun Singh, Advocate for the petitioner. Ms. Shruti, Assistant Advocate General, Punjab. **** SANJIV BERRY, J. 1. The petitioner-Financial Institution 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.1-Chief Judicial Magistrate, Ludhiana, to decide the application submitted by petitioner-Financial Institution 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 30.09.2025 2. It is submitted that no proceedings are pending before DRT/DRAT. 3. It is stated in the application that the respondent-borrower(s) availed a loan facility of Rs.14,40,000/- from the petitioner-Financial Institution, and upon default in repayment, the account was