TRUHOME FINANCE LIMITED vs CHIEF JUDICIAL MAGISTRATE LUDHIANA AND OTHERS

IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH 146 CWP-13837-2026 Date of Decision: 05.05.2026 Truhome Finance Limited ....Petitioner Versus Chief Judicial Magistrate, Ludhiana and others ....Respondents CORAM: HON'BLE MR. JUSTICE SUVIR SEHGAL HON'BLE MR. JUSTICE VIKAS SURI ---- Present: Mr. Nitin Grover, Advocate (through V.C) for the petitioner. Mr. Raghav Goel, 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, Annexure P-2, 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 to 4 had availed a loan facility from the petitioner-finance company and had mortgaged immovable property. Counsel asserts that due to continuous default in repayment, loan account was classified as NPA on 04.07.2025. A notice under Section 13(2) of SARFAESI Act was issued on 14.07.2025 (Annexure P-1), followed by a notice under Section 13(4