District Magistrate is not empowered to hear the borrower or third parties while deciding a Section 14 application filed by a secured creditor
On August 3, 2022, a division bench of the Hon’ble Bombay High Court comprising of Justice K.R. Shriram, and Justice A.S. Doctor has observed that the jurisdiction of the district magistrate is limited only to assisting the secured creditors in taking possession of secured assets under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2022.
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