C. Bright vs The District Collector

The Supreme Court upheld the Kerala High Court's interpretation that Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, is a directory provision, allowing the District Magistrate to deliver possession of secured assets within 30 days, extendable to 60 days with written reasons. The Court emphasized that the purpose of the time limit is to expedite the process for secured creditors, and non-compliance does not adversely affect borrowers. Thus, the court affirmed the High Court's ruling, maintaining the validity of the SARFAESI Act's provisions.