YES BANK LIMITED vs RUPINDER SINGH AND OTHERS

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 4 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 06.11.2024. A notice under Section 13(2) of SARFAESI Act was issued on 06.02.2025, followed by a notice under Section 13(4) of SARFAESI Act dated 30.08.2025, whereafter symbolic possession of the secured asset was taken. Counsel states that petitioner moved an application, Annexure P-2, under Section 14 of SARFAESI Act in November, 2025 before the Chief Judicial BRIJ MOHAN BHALLA 2026.05.30 14:01 I attest to the accuracy and authenticity of this order/judgment. High Court, Sector-1, Chandigarh. Magistrate, Ludhiana, which is still pending. Counsel has made a reference to the stat