The Allahabad High Court has directed the concerned Chief Judicial Magistrates and District Magistrates to decide pending applications under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) expeditiously, holding that prolonged pendency “undermines the very purpose” of the Act. The Division Bench comprising Justice
SARFAESI Act | Magistrates Must Decide Section 14 Applications Within Statutory Timelines; Administrative Delay Defeats Legislative Intent: Allahabad High Court
