S. 14 SARFAESI Act | DM/CJM Obligated To Take Possession Of Secured Asset, Forward It To Secured Creditor: Allahabad HC

The Allahabad High Court ruled that under Section 14 of the SARFAESI Act, the District Magistrate or Chief Judicial Magistrate is obligated to take possession of secured assets and forward them to the secured creditor. The court emphasized that the secured creditor should not have to seek police assistance for enforcement, and the responsibility lies with the DM/CJM to ensure execution of orders. This ruling clarifies the procedural responsibilities under the SARFAESI Act for the recovery of secured assets by financial institutions.