ASSET CARE RECONSTRUCTION ENTERPRISE LTD vs STATE OF PUNJAB AND ORS

IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH 169 CWP-18113-2026 Date of Decision: 29.05.2026 ASSET CARE & RECONSTRUCTION ENTERPRISE LTD. (ACRE’) ...Petitioner Versus STATE OF PUNJAB AND ORS ...Respondents CORAM: HON'BLE MR. JUSTICE SUVIR SEHGAL HON'BLE MR. JUSTICE VIKAS SURI Present: Mr. Abhinav Sood, Advocate, for the petitioner. Mr. A.S. Khara, Senior DAG, Punjab. ***** SUVIR SEHGAL, J. (ORAL) 1. This writ petition has been filed inter alia for issuance of a writ in the nature of mandamus directing respondents No.4 to 6 to provide assistance in handling over the physical possession of the secured asset. 2. Counsel for the petitioner submits that order dated 20.01.2026 (Annexure P-7) has been passed by the Additional District Magistrate, Khanna under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, ‘the SARFAESI Act’), but despite lapse of more than 4 months, physical possession of the secured asset has not been delivered. 3. Advance copy of the petition has been served upon the official respondents. 4. On asking, State counsel has put in appearance on behalf of respondents-state. He does no