SARFAESI ACT, District Magistrate Not Adjudicating Authority, Must Assist Secured Creditors In Asset Possession: Jharkhand High Court

Ranchi, July 4, 2024 — In a significant ruling, the High Court of Jharkhand has directed the Deputy Commissioner of East Singhbhum to promptly dispose of a pending application under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). This decision underscores the importance of timely action in financial recovery processes. Case Details The petitioner, TATA Capital Housing Finance Limited, a prominent housing…