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...physical possession which is denied by the counsel for the bank and submitted that they had only taken symbolic possession. The applicant further argued that there is no concept of symbolic possession and physical possession..., the only word "possession" has been used in the Act. The Law is very clear the judgment of Hon'ble Supreme Court has categorically stated that symbolic possession...is also a possession in terms of securitization action. The physical possession of the assets has been taken on 26.06.2025 pursuant to the notice under Section 13(2) dated 19.09.2024. Such proceedings...

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...no dichotomy between symbolic possession and physical possession as observed by Hon'ble Supreme Court of India, in re, 3...appellant that interpretation of the word 'symbolic possession' and 'physical possession' has to be understood in its literal sense and Tribunal below has completely lost sight of the provisions of...losing income over it during that period. The dichotomy between symbolic possession and physical possession as focussed by the advocate for respondents with reference to the judgment of Hon'ble Supreme...

.... 9. Secondly, the applicant has confused it between the symbolic possession and physical possession. On the one hand the applicant is aggrieved by the order under...according to the applicant, defendant no.1 is taking the symbolic possession on 30thJuly, 2019. The applicant is ready and willing to pay 10% of the total profit made in the business against...section 14 of the 2002 Act and on the other hand the applicant pleads with regard to the symbolic possession. The application is filed with the half-baked knowledge. Mrs. Vaidya submitted that the...

...question and that establishes his physical possession. (4 of 4) [SAW-625/2017] The contention of counsel for the appellant is that the respondent took symbolic possession and physical...the Act of 2013) and the bone of contention of the appellant before the ld. Single Judge was that physical possession of the subject land in question still has not been...adverse inference can be drawn of the appellant holding physical possession of the subject land in question and this what ld. Single Judge has considered in detail in the order impugned before us dt...

...of the notices were received by her or were never served upon her. She has challenged all the process issued by the defendant bank in respect of issue of notices, symbolic possession and physical possession... Present S.A. was filed on 11.09.2018 and amended S.A. was filed on 18.12.2018. Perused the grounds of S.A. and found that para no. 5.01 to 5.11 are same and so grounds of S.A till XVII...are also same. New grounds from para XVIII to XXXI were added. In totality, the applicant has challenged notices u/s 13 (2) and 13 (4) of the Act, on the ground that none...

...through which Appellant is said to have taken symbolic possession of the property. Appellant herein filed reply to the said S.A. on 08.07.2019. When the S.A. was pending for hearing, on 26.09.2019 Appellant took physical possession of the very same property. On such action Respondents herein moved an application to prepone the date of hearing and also...to clarify whether there are any two steps like symbolic possession and physical possession for taking measures u/s 13 (4) of SARFAESI Act. Advocate Ms. Nalini Lodha took...settled law there is no dichotomy between symbolic possession and physical possession. Now it may be relevant to examine possession notice dated 26.02.2019 to know what kind of action Bank initiated...

...Advocate for Appellant to clarify whether there are any two steps like symbolic possession and physical possession for taking measures u/s 13 (4) of SARFAESI Act. Advocate Ms...conceded that as per settled law there is no dichotomy between symbolic possession and physical possession. Now it may be relevant to examine possession notice dated 19.01.2019 to know what kind of...contemplated of taking possession but evidently it has not succeeded in taking physical possession contained with symbolic possession. When that is the situation, having availed the measure u/s 13 (4) of the Act, it cannot again take the very same measure for a different purpose viz. physical possession particularly when that action was challenged and the...

...-Borrowers holding that the representation filed under section 13(3-A) of the SARFAESI Act was not disposed off within 15 days and the symbolic possession notice dated 13.02.2019 was not delivered to the borrowers, accordingly, while setting aside the demand notice dated 10.11.2018 and the possession notice dated 13.02.2019 directed the F.I. to restore the physical possession...on this aspect. 9. It was further submitted that measures taken for symbolic possession and physical possession give rise separate cause of action, therefore, even if..., the physical possession was taken after taking the symbolic possession, yet the irregularity caused at the time of symbolic possession cannot be ignored. The secured creditor can take the benefit, only if it has not 7 of 14 opted for issuing the symbolic possession notice and has...

.... Presiding Officer has also observed that there is no dichotomy between symbolic possession and physical possession and there could be no embargo in the creditor misleading to take the physical possession instead of symbolic possession...under Rules 8 (1) & (2) have been complied with before taking physical possession of the subject property. It is further submitted that the nine-pointer affidavit accompanying the application u/s...provisions under Rule 8(1) and (2) need to be complied with at all when the possession is being taken under Sec. 14 of the SARFAESI Act through the District Magistrate given the decision of the Hon'ble...

...taken as a ground at present to find that the appellants have a good prima facie case. It is settled law that there is no dichotomy between symbolic possession and physical possession. Rules will have...out that there are defects in the procedure adopted for taking symbolic possession of the subject property and that it is not in accordance with the rules and it is based on that symbolic possession...Rupak Sawangikar and Mr Kushal Sawant, i/b Mr Puneet Gogad, Advocate for Appellants. Mr Rajesh Nagory, along with Mr Indrajeet Deshmukh, i/b M/s. Vidhii Partners, Advocate for Respondent...

...measure under Section 13(4), one of the measure under Section 13(4) is taking possession of the property. Possession is of two kinds: symbolic possession & physical possession. Unless and until borrower...has not lost either symbolic or physical possession therefore in the light of above mentioned judgment this SA is premature and no cause of action is accrued in favour of borrower to file this SA...possession by serving 13(4) notice and now going to initiate an action for taking physical possession of the property through DM. The borrower gets a cause of action to file SA when bank adopts any...

...possible to hold that taking “measures” under Section 13(4)(a) also means taking only “symbolic possession” and not “physical possession”. We record further reasons to say so in following paragraph. From...quite possible, may be in view of resistance or if the banks choose to take only symbolic possession, to state that the secured creditor has taken symbolic/constructive possession and not physical possession...), even if he is able to show that the steps taken by the secured creditor are in violation of the provisions of the Act. Thus, if symbolic possession is taken contrary to Section 13(2) prior to 60 days from the date of the notice mentioned therein, all borrowers would have to wait until physical possession is taken and/or...

...be dismissed. (b) That the bank has not taken any physical possession of movable and bank has taken symbolic possession of the building and super structure of mortgage property. (c) That when bank has...had taken symbolic possession bank was required to prepare inventory of the movables because the bank had mentioned the details of movables in the possession notice and further in the Transcore case Hon'ble Supreme Court has categorically held that there is no difference between symbolic possession and physical possession...not taken any physical possession of movable as such there ~ np need to prepare punchnama and there is no violation of Rule 4. (d) That non mention of amended provisions in the possession notice...

...the SARFAESI Act and rule framed there under. That as per the SAARFAESI Act, there is no distinction between symbolic possession and physical possession. The Bank had already obtained orders for...between symbolic possession and physical possession. The Bank had already obtained orders for physical possession of the property from the Collector and District Magistrate, Cuttack on 20.10.2014. That the...taken symbolic possession of the property under Section 13(4) of the SARFAESI Act and thereafter proceeded under Section 14 of the Act for taking physical possession of the property and it was delayed due...

...has not been followed by the respondent Bank while taking symbolic possession and physical possession of the property in question, therefore, the SA may be allowed and entire SARF AESI actions...29.10.2019, issued the Demand Notice dated 18.1 1.2019 and Symbolic Possession Notice dated 07 .02.2020 to the S. Applicant. The Demand Notice and the Symbolic Possession Notice were...served to the S. Applicant. It is also submitted that the symbolic possession notice dated 07.02.2020 was also published in the newspapers and affixed on the secured assets. The learned...

...a purpose. The words “including the right” appearing in clause (a) of section 13(4) comprehend both symbolic and/or physical possession in stages as is elucidated in Rules 8 and 9. The measure...provided under rules 8 and 9 of the said rules. These Rules envisage different stages/steps to be followed; first symbolic possession [Rules 8(1) and (2)], then physical/actual possession [Rules 8(3) and...Court negatived this contention. The Supreme Court held that there is no dichotomy between symbolic possession and physical possession.43. The following is the gist of what the Supreme...

...petitioner that the respondent-Bank could have taken only the symbolic possession of the disputed premises and not the actual physical possession while taking measures under Section 13(4) of the said Act...Transcore v. Union of India AIR 2007 SC 712 wherein the Apex Court dismissing the plea of symbolic possession, categorically held that the dichotomy between symbolic and physical possession...absolute concept. The dichotomy between symbolic and physical possession does not find place in the Act. As stated above, there is a conceptual distinction between securities by which the creditor obtains...