Pls help with this.
In my case, the authorized officer of the Bank had moved an application before the District Magistrate under section 14 of Sarfaesi Act 2002 for taking physical possession of the assets mortgaged by me. But he had concealed the fact that I have already repaid the total interest and overdue amounts with penal interest as due on date. In fact, the application for taking over the physical possession under section 14 of Sarfaesi Act was moved one day after the amounts were deposited by me on the consent of the bank that my account will be upgraded to PA from NPA and recovery proceedings will be deferred. The District Magistrate had issued the orders for taking possession of my assets in favor of the Bank without giving a hearing to me. Now I had again moved an application before the DM to recall his orders for possession since the banker had concealed important facts in the application and the said application is liable to be dismissed as my account can not be treated as NPA in view of the RBI guidelines vide circular No. RBI/2014-15/74 DBOD.No.BP.BC.9/21.04.048/2014-15 on Income recognition, asset classification and provisioning pertaining to advances.
Pls let me know if the DM has the authority to recall the orders previously issued by him.