SMFG INDIA CREDIT CO LTD vs CHIEF JUDICIAL MAGISTRATE LUDHIANA AND OTHERS

CWP-14526-2026 -1- IN THE HIGH COURT OF PUNJAB & HARYANA AT CHANDIGARH (142) CWP-14526-2026 Date of decision:- 11.05.2026 SMFG India Credit Company Ltd. ... Petitioner Versus Chief Judicial Magistrate, Ludhiana and others ... Respondents CORAM: HON'BLE MR. JUSTICE SUVIR SEHGAL HON’BLE MR. JUSTICE VIKAS SURI Present:- Mr. Karnesh Verma, 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, 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 02.11.2025. A demand notice under Section 13(2) of SARFAESI Act was issued on 20.11.2025 (Annexure P-3), followed by a notice under Section 13(4) of SARFAESI Act, whereaft