NKGSB COOPERATIVE BANK LIMITED vs SUBIR CHAKRAVARTY

The Supreme Court addressed the conflicting interpretations of the authority of District Magistrates and Chief Metropolitan Magistrates to appoint advocates for taking possession of secured assets under Section 14(1A) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. The court held that such appointments are permissible, aligning with the view of the Madras High Court, which recognizes advocates as officers of the court. This ruling clarifies the legal standing of advocates in the context of asset recovery proceedings.