ICICI Bank Ltd Vs District Police Chief (Kerala High Court)
Summary: The Kerala High Court allowed a writ petition filed by ICICI Bank Limited challenging the order dated 30.05.2026 passed by the Additional Chief Judicial Magistrate, Ernakulam, which dismissed the bank’s application on the ground that the Magistrate had become functus officio after possession of the secured asset had earlier been taken and handed over to the bank.
The petitioner had initiated proceedings under the SARFAESI Act and obtained orders from the Additional Chief Judicial Magistrate, Ernakulam, with the assistance of an Advocate Commissioner. Possession of the secured asset belonging to respondents 3 and 4 was taken and handed over to the bank on 11.05.2026. The borrowers subsequently allegedly broke open the lock and seal, trespassed into the property and took possession of the secured asset. The bank filed Ext.P5 complaint, on the basis of which Ext.P6 FIR was registered. Since the Advocate Commissioner had already submitted a report and returned the warrant stating that possession had been taken and handed over to the bank, the bank filed Ext.P7 application seeking reopening of the MC and assistance for taking possession. The ACJM, however, dismissed the application through Ext.P8 order dated 30.05.2026, holding that it had become functus officio.
