Section 14 SARFAESI Act: Adjudicatory Powers not vested with District Magistrate

Bajaj Finance Ltd. Vs LD. District Collector (Gujarat High Court) On perusal of the section 26E and Section 14 of the SARFAESI Act, it is clear that the District Magistrate has to discharge the ministerial act of providing assistance to the secured creditor to take physical possession of the secured assets when the secured creditor has initiated the proceedings under section 13 of the SARFAESI Act. As per the provisions of section 26E of the SARFAESI Act, the secured creditor has first claim/charge over the sale proceeds of the secured assets towards the recovery of the outstanding dues. Ther...