Section 14(1A) of SARFAESI not bars appointment of advocates as receivers

Rahul Chaudhary Vs Andhra Bank and Ors. (Delhi High Court)

The insertion of sub-section (1A) in Section 14 of SARFAESI Act, the only change that has been brought about is that the District Magistrate/CMM has now the discretion to appoint even their subordinate officers as receivers. Pertinently, sub-section (1A) of Section 14 does not bar the appointment of advocates as receivers. The same position obtains vis-à-vis Rule 8(3) of The Security Interest (Enforcement) Rules, 2002, which has been cited in the aforementioned judgment of the Bombay High Court.

FULL TEXT OF THE HIGH COURT ORDER / JUDGEMENT

CM APPL. 1852/2020 (Exemption)

1. Allowed, subject to just exceptions.

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