YES BANK LIMITED vs M/S KUBER KNITWEAR AND OTHERS

IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH 151 CWP-16011-2026 Date of Decision: 21.05.2026 YES BANK LIMITED ...Petitioner Versus M/S KUBER KNITWEAR AND ORS ...Respondents CORAM: HON'BLE MR. JUSTICE SUVIR SEHGAL HON'BLE MR. JUSTICE VIKAS SURI Present: Mr. D.K. Singal, 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-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.1 to 5 had availed a loan facility from the petitioner- bank and had mortgaged immovable property. Counsel asserts that due to continuous default in repayment, loan account was classified as NPA on 13.10.2024. A notice under Section 13(2) of SARFAESI Act was issued on 07.12.2024, followed by a notice under Section 13(4) of SARFAESI Act dated 24.02.2025, whereafter symbolic possession of the secured asset was taken. Counsel states that petiti