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2015 (10) TMI 92 - HC - Companies LawChallenging of order under Section 14 of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 – Petitioner contends that they were not given any opportunity of being heard before passing of the said order – Petitioner further holds that the amount due towards the Respondent was not verified and permission for possession of assets of the Petitioner was not justified – Held That:- There was no dispute regarding the amount due as the same has not been paid and neither the notice issued earlier under Section 13(2) was challenged - Section 14 does not contemplate any notice to be given by the District Magistrate nor does it contemplate any opportunity of being heard - Possession of the assets of the Petitioners was compliance of Section 14 – Petition being devoid of merits was dismissed - Decided in favour of the Respondent.
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