CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED vs STATE OF PUNJAB

IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH 179 CWP-15606-2026 Date of Decision: 18.05.2026 Cholamandalam Investment and Finance Company Limited ....Petitioner Versus State of Punjab ....Respondent CORAM: HON'BLE MR. JUSTICE SUVIR SEHGAL HON'BLE MR. JUSTICE VIKAS SURI ---- Present: Mr. Sandeep Chopra, Advocate for the petitioner. Mr. Akhil Kamra, Assistant Advocate General, 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 Chief Judicial Magistrate, Ludhiana to decide the application dated 04.09.2025, Annexure P-3, filed by petitioner under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, ‘the SARFAESI Act’). 2. Counsel for the petitioner submits that borrowers had taken a loan from the petitioner finance company and had mortgaged immovable property. Counsel asserts that due to continuous default in repayment, the loan account was classified as NPA on 03.06.2025. A notice under Section 13(2) of the SARFAESI Act was issued on 11.06.2025 (Annexure P-1), followed by notice under Section 13(4) of the