Chattisgarh High Court
Samman Capital Limited vs Pranay Chouradia on 26 May, 2026
Author: Narendra Kumar Vyas
Bench: Narendra Kumar Vyas
1
2026:CGHC:23496
NAFR
HIGH COURT OF CHHATTISGARH AT BILASPUR
WP227 No. 556 of 2026
1 - Samman Capital Limited (Previously Known As Indiabulls Housing
Finance Limited) Through Rajesh Chauhan S/o S.P. Singh Chauhan
Aged About 50 Years Working As Legal Manager, Having Registered
Address At 5th Floor, Building No. 27, K.G. Marg , Connaught Palace
New Delhi -110001 (Present Correct Name And Address)
... Petitioner(s)
versus
1 - Pranay Chouradia Pro. Kreeti Ventures Shop No. 111, 1st Floor,
Ambuja Mall Vidhan Sabha Road Mowa, Raipur (C.G.) A L S O A T
House No. 63, Avani Avenue Daldal Seoni, Mowa Raipur (C.G.)
2 - Praneeta Chouradia House No. 63, Avani Avenue Daldal Seoni,
Mowa Raipur (C.G.) A L S O A T Municipal No. 26, Commercial Unit No.
Ccrp 0417 4th Floor, Ambuja Mall City Center Raipur, Khasra No. 773,
774/1, 941, 942, P H No. 109/44 Kusha Bhau Thakre, Ward No. 26
Vidhan Sabha Road Near Saddu Nala Mouja Mowa Raipur C.G.
3 - Yamini Karnik House No. 63 Avani Avenue Daldal Seoni Mowa,
Raipur C.G. (Respondent Present Correct Name And Address) Party
S.N. Correctly
DigitallyMentioned
by SUGUNA
signed
SUGUNA DUBEY
DUBEY Date:
2026.05.26 ... Respondent(s)
16:52:03 +0530
2
For Petitioner(s) : Mr.Ritesh Sharma, Advocate through VC
For Respondent(s) : None present.
(Hon’ble Shri Justice Narendra Kumar Vyas)
Order on Board
26/05/2026
Heard on admission.
2. The present petition under Article 227 of the Constitution of India
has been preferred by the petitioner/Finance Company seeking a
direction to the learned Additional Chief Judicial Magistrate, Raipur, to
expeditiously decide the application filed by the petitioner under Section
14 of the Securitisation and Reconstruction of Financial Assets and
Enforcement of Security Interest Act, 2002 (for short, “the SARFAESI
Act“).
3. Learned counsel for the petitioner submits that the petitioner had
extended financial assistance to the private respondents and, upon
default in repayment of the loan amount, the account was classified as
Non-Performing Asset (NPA). Thereafter, proceedings under the
provisions of the SARFAESI Act were initiated and an application under
Section 14 of the SARFAESI Act was filed before the competent
authority on 22/03/2025 seeking assistance for taking physical
possession of the secured asset.
4. It is further submitted that though Section 14 of the SARFAESI
Act contemplates disposal of such application within a stipulated period
3
of 30 days, extendable up to 60 days for reasons to be recorded, the
application is still pending consideration before the learned Additional
Chief Judicial Magistrate, Raipur. It is contended that such prolonged
pendency defeats the very object of the SARFAESI Act, which has been
enacted for expeditious recovery of secured debts.
5. Learned counsel for the petitioner has placed reliance upon the
judgment of the Apex Court in R.D. Jain and Company Vs. Capital
First Limited and Others, reported in (2023) 1 SCC 675, as also the
orders passed by this Court in similar matters directing expeditious
consideration of applications preferred under Section 14 of the
SARFAESI Act.
6. Considering the submissions advanced by learned counsel for
the petitioner and upon perusal of the material available on record,
without entering into the merits of the controversy, this Court deems it
appropriate to dispose of the present petition with a direction to the
learned Additional Chief Judicial Magistrate, Raipur, to consider and
decide the petitioner’s application filed under Section 14 of the
SARFAESI Act, strictly in accordance with law, as expeditiously as
possible, preferably within a period of 45 days from the date of
production of a certified copy of this order, if there is no legal
impediment.
7. It is made clear that this Court has not expressed any opinion on
the merits of the case and the concerned authority shall decide the
4
matter independently in accordance with law.
8. With the aforesaid observation and direction, the present petition
stands disposed of.
Sd/-
(Narendra Kumar Vyas)
Judge
