Bombay High Court
PORTIUM FINANCE LTD THROU. KANCHAN PRAKASH PATOLEversusTHE SUPDT OF THE CHIEF JUDICIAL MAGISTRATE DADRA AND NAGA HAVELI
- Decided
- Disposal
- Disposed Off
Holding
The 30‑day disposal guideline under Section 14 of the Securitisation Act applies to the Judicial Magistrate of Dadra and Nagar Haveli, and the magistrate must dispose of the pending application within four weeks of this order.
Summary
Portium Finance Ltd, through Kanchan Prakash Patole, filed a Section 14 application under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 on 16‑02‑2026 before the Judicial Magistrate, Dadra and Nagar Haveli, Silvassa. The application was verified but no order was passed, causing a delay that the petitioner, a secured creditor, challenged by filing a writ petition. The Court relied on the Division Bench judgment in L&T Finance Ltd. v. State of Maharashtra (2023 SCC Online Bom (931)), which mandated disposal of such applications within 30 days. It held that the same guideline applies to magistrates in the Union Territory of Dadra and Nagar Haveli, as they fall within the High Court’s jurisdiction. Consequently, the Court directed the magistrate to dispose of the pending application within four weeks of the order. The writ petition was disposed with the direction, and any other pending applications were also deemed disposed.
Issues considered
- Whether the 30‑day disposal guideline for Section 14 applications under the Securitisation Act, laid down in L&T Finance Ltd. v. State of Maharashtra, is applicable to a Judicial Magistrate in the Union Territory of Dadra and Nagar Haveli.
- Whether the delay in disposing the petitioner's application violates the statutory mandate and warrants judicial intervention.
Legislation cited
Subjects
- secured creditor
- Section 14
- Securitisation Act
- disposal timeline
- judicial delay
- writ petition
- High Court
- Union Territory
Judgment
varsha 17-wp-10729-2026.doc
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
CIVIL APPELLATE JURISDICTION
WRIT PETITION NO.10729 OF 2026
Portium Finance Ltd Throu. .. Petitioner
Kanchan Prakash Patole
V/S.
The Supdt of the Chief Judicial .. Respondent
Magistrate Dadra and Naga Haveli
-------------------
Mr. Sanjay Anabhawane, for the Petitioner.
None for the respondent.
VARSHA
DEEPAK
--------------------
GAIKWAD
Digitally signed by
VARSHA DEEPAK
GAIKWAD
CORAM : MANISH PITALE &
Date: 2026.08.25
18:14:10 +0530 SHREERAM V. SHIRSAT, JJ.
DATE : 25th AUGUST 2026.
PC:
1. Heard learned counsel petitioner.
2. The petitioner is a secured creditor aggrieved by the delay on the
part of the Judicial Magistrate, Dadra and Nagar Haveli at Silvassa, in
disposing of an application filed by the petitioner under Section 14 of
the Securitisation and Reconstruction of Financial Assets And
Enforcement of Security Interest Act, 2002.
3. Reliance is placed on the judgment of the Division Bench of this
Court in the case of 'L and T Finance Limited Vs. State of Maharashtra
and Ors'1 to contend that it ought to have been disposed of within 30
1 2023 SCC online Bom (931)
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varsha 17-wp-10729-2026.doc
days of filing of the application.
4. We find that in the present case the application is filed on
16.02.2026 bearing Miscellaneous Application (CR) No. 40 of 2026
before the Magistrate.
5. It appears that although the verification of the documents has
been undertaken, no effective orders have been passed till date.
6. In Paragraph 23(a) of the aforesaid judgment in the case of L and
T Finance Limited Vs. State of Maharashtra and Ors' (supra), a Division
Bench of this Court directed that all such applications filed under
Section 14 of the Securitisation Act before the competent
Magistrates/Collectors in the State of Maharashtra should be disposed
of not later than 30 days from the dates of filing of the applications.
7. Although in the said portion of the judgment reference is made
to District Magistrates/Collectors in the State of Maharashtra, while
the Magistrate in the present case is located in Union of Territory of
Dadra and Nagar Haveli at Silvassa, since the said Magistrate falls
within the jurisdiction of this Court, according to us, the guidelines
issued in the said judgment in the case of L and T Finance Limited Vs.
State of Maharashtra and Ors' (supra) apply with equal force to the
concerned Magistrate in the present case.
8. In view of the above, the writ petition is disposed of by directing
the Judicial Magistrate of Dadra and Nagar Haveli at Silvassa to
dispose of the pending Miscellaneous Application (CR) No. 40 of 2026
filed by the petitioner within four weeks of this order being produced
before the Magistrate.
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varsha 17-wp-10729-2026.doc
9. Pending applications, if any, also stand disposed of.
(SHREERAM V. SHIRSAT, J.) (MANISH PITALE, J.)
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