BEFORE THE HON’BLE DISTRICT MAGISTRATE, AGRA
SARFAESI APPLICATION NO. /2019
Application U/s 14 of Securitization and Reconstruction of
Financial Assets and Enforcement of Security Interest Act,
2002 (hereinafter referred to as The Act) For Taking
Possession of Secured Assets.
P.S:- (fill the name of PS concerned)
Sir,
The applicant begs to submit as follows:-
1. That the applicant Magma Housing Finance Ltd is a Non-
banking Finance Company incorporated and registered
under the Companies Act of 1956 having its Registered
Office at 8, Sant Nagar, East of Kailash, New Delhi-110065,
and having amongst other one of its Branch Office at 6 th
Floor, Block No. E-12/8 Shree Vrindavan Tower, Sanjay
Place, Agra- 282002 and is doing business of providing
financial assistance to its customers.
2. That at present Mr. Vinay Kumar Gautam is the
Authorized Officer and also Power of Attorney holder of
the applicant Company and is authorized to execute the
rights of a secured creditor under the provisions of
Securitization And Reconstruction of Financial Assets And
Enforcement of Security Interest Act, 2002 (hereinafter
referred to as the Act) he is well conversant with the facts
of the case and is filling this application on behalf of the
creditor Company.
3. That the NAVED KHAN S/o- ANIS KHAN, R/o- 8/107,
KATHAHARA NIL, NAI KI MANDI, AGRA, UTTAR
PRADESH-282010 & ALSO AT:- HOUSE AT PART OF PLOT
No. D-76, BALAJI PURAM, WARD LOHA MANDI, AGRA-
282010, UTTAR PRADESH (hereinafter referred to as
“Borrower”),
SHABANA KHAN W/o-NAVED KHAN R/o- 8/107,
KATHAHARA NIL, NAI KI MANDI, AGRA, UTTAR
PRADESH-282010 {hereinafter referred as “Co-
borrower”},
SHABAB DURRANI S/o-KHURSHID R/o- KESHAR VIHAR,
AGRA, UTTAR PRADESH- 282010 {hereinafter referred as
“Co-borrower”} on their request, were granted financial
assistance by way of Home Loan of Rs. 2,000,000/-
(Rupees twenty lakh only) under loan agreement No.
HL/0094/H/14/100012 dated 28/08/2015 and the Co-
Borrowers joined the borrower in the said loan facility.
The said loan was repayable in 240 Equal Monthly
Installments, each of Rs. 22,022/-.
4. That the aggregate amount of granted financial assistance
is of Rs. 2,000,000/-(Rupees twenty lakh only) and now a
total claim of a sum of Rs. ________________/- is due against
the Borrowers as on dated_____________due to non-payment
of Equated Monthly Installments of the loans.
5. That the terms and conditions of the loan agreements
entered into between the parties were accepted to the
borrowers and thereafter all the borrowers have executed
various documents including the Loan Application, Loan
Agreements and Demand Promissory notes in respect of
the said loans.
6. That in order to secure the loan amount, the borrower(s)
had created security interest over property/ properties
and that Bank / Financial Institution is holding a valid and
subsisting security interest over such property /
properties and claim of the Bank / Financial Institution is
within the limitation period.
7. The borrower(s) had deposited the title deed of his / her
immovable property/ properties to create equitable
mortgage of his / her property/ properties given below :-
Bearing HOUSE AT PART OF PLOT No. D-76, BALAJI
PURAM, WARD LOHA MANDI, TEHSIL & DISTRICT-
AGRA-282010 (More particularly, described in the
schedule of this application). The borrower(s) as
mentioned above had mortgaged his / her property /
properties as borrower and undertook to pay the said
loans together with interest and expenses and also
under took that in case of any default is committed by
the them, the same be recovered by taking possession
and sale of the property/ properties mortgaged by
him / her.
8. That the borrower(s) have committed default in
repayment of aggregate amount of Rs. 2,000,000/-
(Rupees twenty lakh only)as granted financial assistance
and the account of the Borrower(s) was running irregular
as the cheques issued by the Borrower were returned
unpaid by the banker of the Borrower(s) and despite
several reminders for payment of the amount due from
the borrowers, given by the applicant, the borrowers
failed to discharge their liability towards the amount
outstanding in their respective loan accounts No.
HL/0094/H/14/100012.
9. That now a total sum of Rs. _________________/- is due
against the Borrowers as on dated _______________due to
non-payment of Equal Monthly Installments of the loan
amount as agreed in the loan agreements executed
between the Applicant/ Company and the Borrowers.
Consequently, upon such default in repayment of financial
assistance(s) the account of the Borrowers, have been
classified as Non-Performing Assets (NPA) on dated
30.11.2017 in accordance with the guidelines of Reserve
Bank of India.
10. That as aforesaid since the Borrowers failed to
discharge their liability to repay the amount due from
them; Demand Notice(s) dated 22/12/2017 were served
upon the Borrowers which were duly served upon the
Borrowers, as required U/s 13(2) of the aforesaid Act. But
despite the service of the said notice(s) the Borrowers
failed to discharge their liability even after the expiry of
the statutory period of 60 days.
11. That no such objections or representations in reply to
the notice(s) have been received from the borrower(s).
12. That after expiry of the 60 days from the date of
service of the aforesaid Demand Notices, but despite
service of said notices the Borrowers have neither paid
the outstanding amount nor had they handed over the
possession of the property in question.
13. That the said secured assets i.e. the immovable
property referred in the schedule given at the foot of this
application is situated within the jurisdiction of P.S.
___________________ and U/s 14 of the aforesaid Act, it may be
stated, that you are the competent authority to take
possession of the said secure assets and documents
relating thereto and forward such assets and documents
to the secured creditors after possession and to take all
suitable steps and to use such force as may be necessary
for taking possession of the said secured assets as
provided U/s 14(2) of the Act.
14. The copies of notices U/s 13(2) of the Act, Loan
Applications, Loan Agreements, Demand Promissory
Notes, Letter regarding deposit of title deed by the
Borrowers, the title deed deposited by borrowers and
statement of account are enclosed herewith for the kind
perusal of the Hon’ble court.
15. That the Applicant Company / Financial Institution
had complied with the provisions of The Securitization
and Reconstruction of Financial Assets and Enforcement
of Security Interest Act, 2002.
16. That, further, it is humbly submitted that the Hon’ble
Supreme Court in Standard Charted Bank Vs. V. Noble
Kumar, (2013) 9 SCC 620 has ruled that “the secured
creditor Bank / Financial Institution can approach
directly to magistrate under Section 14 of the Act without
resorting method under Section 13(4) of the said Act.
17. Hence, this Application.
PRAYER
It is therefore, respectfully prayed that possession of the
said immovable property(s) which is the secured assets of the
Borrower(s) may pleased be taken and thereafter the said
assets be delivered to the Applicant / Company or pass any
such order which the Hon’ble Court deems just and proper in
the circumstances of the matter.
SCHEDULE TO THE PROPERTY(S) MORTGAGED
Detail of the immovable property(s) mortgage as secured
assets by Borrower:-
HOUSE AT PART OF PLOT No. D-76 MEASURING AREA
98.87 [Link]. OR 82.66 SQ. MTRS. SITUATED AT BALAJI
PURAM, WARD LOHA MANDI, TEHSIL & DISTRICT-
AGRA, UTTAR PRADESH-282010 and bounded as follows:-
East – HOUSE West – REMAINING PART OF PLOT No. D-76
North – HOUSE OF BHAGWAN SINGH AND R.P. SINGH
South – 9 FEET WIDE ROAD.
Date: Applicant
(Magma Housing Finance
Ltd.)
Through
(MAYANK UPADHYAY)
ADVOCATE
BEFORE THE HON’BLE DISTRICT MAGISTRATE, AGRA
SARFAESI APPLICATION NO. /2019
Magma Housing Finance Ltd. …
Applicant
Versus
PIYUSH SAXENA & ANR. …Respondent(s)
Affidavit of Vinay Kumar Gautam S/o Sh.
H.K. Gautam aged about _____ years
Principal Officer & Power Attorney Holder
of Magma Housing Finance Ltd at 6th Floor,
Block No. E-12/8 Shree Vrindavan Tower,
Sanjay Place, Agra- 282002.
I, the above named deponent do hereby solemnly affirm and
state on oath as follows:-
1. That the applicant Magma Housing Finance Ltd is a
Non-banking Finance Company incorporated and
registered under the Companies Act of 1956 having its
Registered Office at 8, Sant Nagar, East of Kailash, New
Delhi-110065, and having amongst other one of its
Branch Office at 6th Floor, Block No. E-12/8 Shree
Vrindavan Tower, Sanjay Place, Agra- 282002 and is
doing business of providing financial assistance to its
customers.
2. That at present Mr. Vinay Kumar Gautam is the
Authorized Officer and also Power of Attorney holder of
the applicant Company and is authorized to execute the
rights of a secured creditor under the provisions of
Securitization And Reconstruction of Financial Assets
And Enforcement of Security Interest Act, 2002
(hereinafter referred to as the Act) he is well
conversant with the facts of the case and is filling this
application on behalf of the creditor Company.
3. That the NAVED KHAN S/o- ANIS KHAN, R/o- 8/107,
KATHAHARA NIL, NAI KI MANDI, AGRA, UTTAR
PRADESH-282010 & ALSO AT:- HOUSE AT PART OF
PLOT No. D-76, BALAJI PURAM, WARD LOHA MANDI,
AGRA-282010, UTTAR PRADESH (hereinafter referred
to as “Borrower”), SHABANA KHAN W/o-NAVED KHAN
R/o- 8/107, KATHAHARA NIL, NAI KI MANDI, AGRA,
UTTAR PRADESH-282010 {hereinafter referred as “Co-
borrower”}, SHABAB DURRANI S/o-KHURSHID R/o-
KESHAR VIHAR, AGRA, UTTAR PRADESH- 282010
{hereinafter referred as “Co-borrower”} on their
request, were granted financial assistance by way of
Home Loan of Rs. 2,000,000/-(Rupees twenty lakh
only) under loan agreement No.
HL/0094/H/14/100012 dated 28/08/2015 and the
Co-Borrowers joined the borrower in the said loan
facility. The said loan was repayable in 240 Equal
Monthly Installments, each of Rs. 22,022/-.
4. That the aggregate amount of granted financial
assistance is of Rs. 2,000,000/-(Rupees twenty lakh
only) and now a total claim of a sum of Rs.
________________/- is due against the Borrowers as on
dated_____________due to non-payment of Equated
Monthly Installments of the loans.
5. That the terms and conditions of the loan agreements
entered into between the parties were accepted to the
borrowers and thereafter all the borrowers have
executed various documents including the Loan
Application, Loan Agreements and Demand Promissory
notes in respect of the said loans.
6. That in order to secure the loan amount, the
borrower(s) had created security interest over
property/ properties and that Bank / Financial
Institution is holding a valid and subsisting security
interest over such property / properties and claim of
the Bank / Financial Institution is within the limitation
period.
7. The borrower(s) had deposited the title deed of his /
her immovable property/ properties to create
equitable mortgage of his / her property/ properties
given below :-
Bearing HOUSE AT PART OF PLOT No. D-76, BALAJI
PURAM, WARD LOHA MANDI, TEHSIL & DISTRICT-
AGRA-282010 (More particularly, described in the
schedule of this application). The borrower(s) as
mentioned above had mortgaged his / her property /
properties as borrower and undertook to pay the said
loans together with interest and expenses and also
under took that in case of any default is committed by
the them, the same be recovered by taking possession
and sale of the property/ properties mortgaged by
him / her.
8. That the borrower(s) have committed default in
repayment of aggregate amount of Rs. 2,000,000/-
(Rupees twenty lakh only)as granted financial
assistance and the account of the Borrower(s) was
running irregular as the cheques issued by the
Borrower were returned unpaid by the banker of the
Borrower(s) and despite several reminders for
payment of the amount due from the borrowers, given
by the applicant, the borrowers failed to discharge their
liability towards the amount outstanding in their
respective loan accounts No. HL/0094/H/14/100012.
9. That now a total sum of Rs. _________________/- is due
against the Borrowers as on dated _______________due to
non-payment of Equal Monthly Installments of the loan
amount as agreed in the loan agreements executed
between the Applicant/ Company and the Borrowers.
Consequently, upon such default in repayment of
financial assistance(s) the account of the Borrowers,
have been classified as Non-Performing Assets (NPA)
on dated 30.11.2017 in accordance with the guidelines
of Reserve Bank of India.
10. That as aforesaid since the Borrowers failed to
discharge their liability to repay the amount due from
them; Demand Notice(s) dated 22/12/2017 were
served upon the Borrowers which were duly served
upon the Borrowers, as required U/s 13(2) of the
aforesaid Act. But despite the service of the said
notice(s) the Borrowers failed to discharge their
liability even after the expiry of the statutory period of
60 days.
11. That no such objections or representations in reply to
the notice(s) have been received from the borrower(s).
12. That after expiry of the 60 days from the date of
service of the aforesaid Demand Notices, but despite
service of said notices the Borrowers have neither paid
the outstanding amount nor had they handed over the
possession of the property in question.
13. That the said secured assets i.e. the immovable
property referred in the schedule given at the foot of
this application is situated within the jurisdiction of P.S.
(fill the name of PS concerned)and U/s 14 of the aforesaid Act,
it may be stated, that you are the competent authority
to take possession of the said secure assets and
documents relating thereto and forward such assets
and documents to the secured creditors after
possession and to take all suitable steps and to use such
force as may be necessary for taking possession of the
said secured assets as provided U/s 14(2) of the Act.
14. The copies of notices U/s 13(2) of the Act, Loan
Applications, Loan Agreements, Demand Promissory
Notes, Letter regarding deposit of title deed by the
Borrowers, the title deed deposited by borrowers and
statement of account are enclosed herewith for the
kind perusal of the Hon’ble court.
15. That the Applicant Company / Financial Institution
had complied with the provisions of The Securitization
and Reconstruction of Financial Assets and
Enforcement of Security Interest Act, 2002.
16. That, further, it is humbly submitted that the Hon’ble
Supreme Court in Standard Charted Bank Vs. V. Noble
Kumar, (2013) 9 SCC 620 has ruled that “the secured
creditor Bank / Financial Institution can approach
directly to magistrate under Section 14 of the Act
without resorting method under Section 13(4) of the
said Act.
17. That Hence, this Application.
Deponent
Verified that contents of Para no.1 to 2 are based on
personal knowledge and the contents of Para no.3 to 17 of this
affidavit are based on record and legal advice which I believe to
be true and correct no part of it is false and nothing has been
concealed therein. So help us God.
Signed and verified at Agra on dated, / / 2019.
Deponent
Identified Signatures of Mr. Vinay Gautam
Who has signed before me?
MAYANK UPADHYAY
(Advocate)
BEFORE THE HON’BLE DISTRICT MAGISTRATE, AGRA
SARFAESI APPLICATION NO. /2019
IN RE:
Magma Housing Finance Ltd.
….Appellant
Versus
Naved khan & Ors. …Respondent(s)
VAKALATNAMA
KNOW all to whom these presents shall come that I, Vinay Kumar Gautam S/o Sh. H.K
Gautam, Authorized officer, Magma Housing Finance having its branch office at 6th
Floor, Block No. E-12/8 Shree Vrindavan Tower, Sanjay Place, Agra- 282002 .
The above named do hereby appoint:-
[Link] UPADHYAY
Advocate
Infron of Indian Bank Civil Court, Agra.
Reg. no. D/1737/13
Mob. No 7078760967
(Hereinafter called ADVOCATE to be my/our Advocate in the above noted case and authorize
them:
To act appear and plead in the above noted case in this court or any other court in which the same
be tried or heard and also in the appellate Courts. To sign, file, verify and present pleadings,
replications, appeals, cross-objections, or petitions for execution, review petition, restoration,
withdrawal, compromise or other petitions, replies, objections or affidavits or other documents as
may be deemed necessary or proper for the prosecution of the said case in all its stage. To file and
take back documents.
To withdraw, or compromise the said case or submit to arbitration any differences or disputes
which may arise touching in any manner relating to the said case. To take out execution
proceedings. To deposit, draw and receive moneys, cheques, and grant receipts thereof and to do
all other act and things which may be necessary to be done for the progress and in the course to
prosecution of the said case.
To appoint, instruct any other Legal Practitioner authorizing him to exercise the power and
authorizes hereby conferred upon the Advocate whenever he may think fit to do so and sign the
Power of Attorney on my/our behalf. And I/We the undersigned do hereby agree to ratify and
confirm act as if done by the Advocate or their substitutes in the matter as my/our own acts, as if
done by me/us to contents and purposes.
And I/We undertake that I/We or my/our duly authorized agent would appear in the court on all
hearings and will confirm the Advocate for appearance when case is called. And I/We the
undersigned to hereby agree not to hold the Advocate or their substitute responsible to the result
of the said case, consequences for his absence from the court when the said case is called up for
hearing or any negligence of the said Advocate or his substitute.
And I/We the undersigned do hereby agree that in the event of the whole or any part of the fee
agreed by me/us to be paid to the Advocate remaining unpaid they will be entitled/allowed to
withdraw from the prosecution of the said case until the same is paid up. The fee settled is only for
the above case and above court. I/We hereby agree that once the fee is paid, I/We will not be
entitled to refund of the same in any case whatsoever, and in case the above case prolongs for more
than three years, the original fee shall be paid again by me/us. If any costs are allowed for an
adjournment, the Advocate would be entitled to the same.
IN WITNESS WHEREOF I/WE do hereunto set my/our hands to these presents the contents of
which have been understood by me/us this __________ day of ______, 2019.
MayankUpadhyay CLIENT(S)
Advocate
