VBC 1 wp10530.11-13.12 IN THE HIGH COURT OF JUDICATURE AT BOMBAY APPELLATE SIDE WRIT PETITION NO.10530 OF 2011 JM Financial Asset Reconstruction Company Pvt.Ltd. acting in its coapacity as a trustee of the JMFARC-BOI 2009 I-Trust. ..Petitioner. versus State of Maharashtra through the Hon’ble Chief Metropolitan Magistrate. ..Respondent. ..... Mr.Nikhil Rajani i/b.V.Deshpande & Co. for the Petitioner. None for the Respondent. ..... CORAM : DR.D.Y.CHANDRACHUD & A. A. SAYED, JJ. December 13, 2011. P.C. : The Petitioner has filed an application under Section 14(1) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 on 21 January 2011 before the Chief Metropolitan Magistrate which has still not been disposed of. The manner in which such an application must be dealt with has been elaborately laid down in a judgment of a Division Bench of this Court in International Asset Reconstruction Co. Pvt.Ltd. vs. Union of India (Criminal Public Interest Litigation 24 of 2011 decided on 20 August 2011) and in a VBC 2 wp10530.11-13.12 judgment of a Division Bench of this Court in The Saraswat Co- operative Bank Limited Vs. State of Maharashtra (Writ Petition 4344 of 2011, decided on 28 July 2011). We accordingly dispose of this Petition by directing the Competent Authority under Section 14 to expeditiously pass orders on the application under Section 14 in a manner consistent with the law laid down in the judgments of the Division Benches and in any event within a period of one month from the date on which an authenticated copy of this order is produced before the Competent Authority. The Petition is accordingly disposed of. ( Dr.D.Y.Chandrachud, J.) ( A. A. Sayed, J.)