FEDERAL BANK LTD vs HONBLE CHIEF JUDICIAL MAGISTRATE AND ORS

CWP-15772-2026 -1- IN THE HIGH COURT OF PUNJAB & HARYANA AT CHANDIGARH (141) CWP-15772-2026 Date of decision:- 20.05.2026 Federal Bank Ltd. ... Petitioner Versus Hon’ble Chief Judicial Magistrate, District Court Ludhiana Punjab and others ... Respondents CORAM: HON'BLE MR. JUSTICE SUVIR SEHGAL HON’BLE MR. JUSTICE VIKAS SURI Present:- Mr. Gaurav Goel, Advocate and Mr. Raj Pal Kapil, Advocate, for the petitioner. **** 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 23.07.2025, Annexure P-4, filed by petitioner under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, ‘SARFAESI Act’). 2. Counsel for the petitioner submits that respondents No.2 and 3 had availed a loan facility from the petitioner-financial institution and had mortgaged immovable property. Counsel asserts that due to continuous default in repayment, loan account was classified as NPA on 23.01.2025. A demand notice under Section 13(2) of SARFAESI Act was issued on 30.01.2025 (Annexure P-1), f