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Time limit in Section 14 of SARFAESI Act mandating DM to deliver possession of a secured asset is directory: SC

November 6, 2020[2020] 121 67 (SC)

FEMA, BANKING & INSURANCE : Time limit stipulated in section 14 of SARFAESI Act, 2002, mandating District Magistrate to deliver possession of a secured asset, is directory and not mandatory as remedy under section 14 is not rendered redundant if District Magistrate is unable to handover possession and District Magistrate would still be enjoined upon duty to facilitate delivery of possession at earliest

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