Order 1

Order Details: COPY OF ORDER
Pdf Text: IN THE COURT OF HARSHITA MISHRA
CHIEF JUDICIAL MAGISTRATE (CENTRAL)
TIS HAZARI COURTS, DELHI.
MA No. 269/2026
In Re:
SMFG INDIA HOME FINANCE LIMITED
PREVIOUSLY KNOWN AS
FULLERTON INDIA HOME FINANCE COMPANY LTD
(GRIHASHAKTI)
HAVING ITS REGISTERED OFFICE AT
3RD FLOOR, NO-165, MEGH TOWERS,
PH ROAD MADURAVOYAL,
CHENNAI-600095
CORPORATE OFFICE AT:
FLOOR 5 & 6, B WING
SUPREME BUSINESS PARK,
SUPREME CITY, POWAI,
MUMBAI-400076
BRANCH OFFICE AT:
921, WAVE SILVER TOWER,
9TH FLOOR, SECTOR-18,
NOIDA.
Through it authorised officer
Sh. Vikas Gupta
… Secured Creditor / Applicant
Versus
1. RAHUL GOEL (BORROWER)
Η NO. 254 1. BLOCK 2ND FLOOR
SHASTRI NAGAR, NEW DELHI
ALTERNATIVE ADDRESS
HOUSE NO. B-1881, THIRD FLOOR,
BLOCK B MIDDLE PORTION SHASTRI NAGAR
NEW DELHI 110052
MA No.269/2026 Page 1 of 8
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2. SUMAN GOEL
Η NO. 254 L BLOCK 2ND
FLOOR SHASTRI NAGAR,
NEW DELHI
ALTERNATIVE ADDRESS
HOUSE NO. B-1881, THIRD FLOOR,
BLOCK B MIDDLE PORTION
SHASTRI NAGAR
NEW DELHI 110052
3. SUN RISE AGRO FOODS
SUN RISE AGRO FOODS 4064/65/2
NAYA BAZAR, NEW DELHI 110006
ALTERNATIVE ADDRESS
HOUSE NO. B-1881, THIRD FLOOR,
BLOCK B MIDDLE PORTION
SHASTRI NAGAR NEW DELHI 110052
4. ROHIT GOEL
Η NO. 254 L BLOCK 2ND FLOOR
SHASTRI NAGAR, NEW DELHI
ALTERNATIVE ADDRESS
HOUSE NO. B-1881, THIRD FLOOR,
BLOCK B MIDDLE PORTION
SHASTRI NAGAR NEW DELHI 110052
5. JIGYASA GUPTA
Η NO. 254 L BLOCK 2ND FLOOR
SHASTRI NAGAR, NEW DELHI
ALTERNATIVE ADDRESS
HOUSE NO. B-1881, THIRD FLOOR,
BLOCK B MIDDLE PORTION SHASTRI
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NAGAR NEW DELHI 110052
… Respondents
ORDER ON APPLICATION FILED UNDER SECTION 14(1) OF
SECURITISATION AND RECONSTRUCTION OF FINANCIAL
ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002.
15.09.2026
Present: Sh. Deepak Yadav, Ld. counsel for applicant bank alongwith
AR Sh. Vikas Gupta.
Original documents seen and returned.
1. The present is an application filed under section 14 of the
Securitisation and Reconstruction of Financial Assets and Enforcement of
Security Interest Act, 2002 (SARFAESI Act), which has since been
amended vide the Enforcement of Security Interest and Recovery of Debts
Laws and Miscellaneous Provisions (Amendment) Act, 2016 (12.08.2016).
2. The petitioner being a secured creditor seeks assistance of the
undersigned in taking possession and control of the secured asset, which is
stated to be within the territorial jurisdiction of the undersigned. The
respondents are stated to be the borrowers/guarantors/mortgagors within
the contemplation of SARFAESI Act. It is submitted that the property as
mentioned in the application is a secured asset upon which security interest
was created by the borrowers to secure repayment of the financial
assistance extended by the petitioner/applicant. The borrowers committed
default in repayment of the financial assistance and their account was
classified as a non-performing asset. Subsequently, statutory notice in
writing under section 13(2) of SARFAESI Act was served upon the
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borrowers, requiring them to discharge their liability in full within sixty
days, also detailing the amount payable and the secured assets intended to
be enforced in the event of non-payment of secured debts.
3. It has been informed that despite service of notice, no objection or
representation was received by the petitioner from anyone. However, the
borrowers have failed to make the payment despite lapse of stipulated
period.
4. It is then submitted that there is no stay by any competent court or
forum in favour of the respondents.
5. After insertion of Section 17(4A) which provides that DRT has
powers to decide the claims of tenancy or leasehold rights over a secured
asset, CMM/CJM has no jurisdiction to go into the question as to who is
presently in physical possession of the property in question. Reliance being
placed on the judgment passed by the Hon'ble High Court of Delhi in
Cholamandalam Investment and Finance Company Limited vs. Rajeev
Chawla & Anr. dated 22.10.2021.
6. The original documents have been perused, as mentioned in the
application and as supported by the affidavit required by the first proviso to
section 14(1) of SARFAESI Act. The affidavit states that all the provisions
of SARFAESI Act have been complied with by the petitioner. The property
(secured asset) is an immovable property described as “THIRD FLOOR
WITH ROOF RIGHTS NORTHERN SIDE PORTION AREA
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MEASURING 66.67 SQ. YDS., SAID FLOOR BUILT ON PROPERTY
BEARING NO. B-1881, AREA MEASURING 200 SQ. YDS., BUILT ON
PORTION OF OLD PLOT NO. K 22 SITUATED AT SHASTRI NAGAR
DELHI "SAID PROPERTY" BOUNDED AS EAST:-OTHER
PROPERTY, WEST GALI 10 FT, NORTH: PART OF PROPERTY,
SOUTH:- PART OF PROPERTY". The description is the same as in
security agreement and the title documents. It is within territorial
jurisdiction of this court. It is stated to be in the name of respondents. The
original title documents and copies of previous chain of documents in
respect of said property are with the petitioner thereby creating an equitable
mortgage. The amount due is not less than twenty percent of the principal
amount and interest as per clause (j) and the property is not the one hit by
other clauses of section 31 of SARFAESI Act. Sixty-days’ notice given
under section 13(2) of SARFAESI Act has been seen, giving details of
outstanding amount and details of secured asset, along with original postal
receipt and the newspaper publication. The petitioner states that no
objections have been received from anyone and that the borrower has failed
to repay the outstanding amount in full.
7. As such, all statutory requirements have been fulfilled. Hence, it
becomes mandatory for the undersigned being the Chief Judicial Magistrate
to order taking possession of the assets mortgaged with the petitioner and
the documents related thereto, and forward the same to the secured creditor.
As per section 14, the court may take or cause to be taken such steps as are
necessary for effective implementation of the order.
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8. In view of this position, I hereby appoint Mr. Mayank Kamra,
Advocate, Enrollment No. D2431/2020, at 11 B, First Floor, Mathura Road,
Block C, Jangpura, Delhi. Mobile No. 9811368274, as Receiver to take the
physical possession of the secured asset, that is, immovable property
described as “THIRD FLOOR WITH ROOF RIGHTS NORTHERN SIDE
PORTION AREA MEASURING 66.67 SQ. YDS., SAID FLOOR BUILT
ON PROPERTY BEARING NO. B-1881, AREA MEASURING 200 SQ.
YDS., BUILT ON PORTION OF OLD PLOT NO. K 22 SITUATED AT
SHASTRI NAGAR DELHI "SAID PROPERTY" BOUNDED AS EAST:-
OTHER PROPERTY, WEST GALI 10 FT, NORTH: PART OF
PROPERTY, SOUTH:- PART OF PROPERTY”. The Receiver shall give
possession notice to the Authorized Officer of the secured creditor and the
borrower, to be served personally via speed post, at least fifteen days in
advance. A copy of such fifteen-days’ advance notice shall also be affixed
on the main door or other conspicuous part of the said property. A copy of
this order be also affixed along with such notice and photographs be also
taken as proof of the same.
9. After expiry of the notice, the Receiver shall take possession of the
aforesaid property. The entire proceedings shall be photographed or video-
recorded as per the demand of the situation. The Receiver shall be
empowered to break open the locks, doors, windows, shutters and to
remove any other kind of obstruction, if required, for taking possession of
the property. In such eventuality, the Receiver shall prepare an inventory of
the articles found lying therein, which shall be duly signed by the
witnesses. Copies of the inventory shall be handed over to the borrowers if
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present at the site under acknowledgment and also to the Authorized
Officer of the petitioner.
10. After taking over the possession of the aforesaid assets, the Receiver
shall forward the same to the petitioner through its authorized officer. The
Receiver shall exercise due care and caution and not violate the orders of
any Court or forum relating to the aforesaid property.
11. The petitioner shall furnish all necessary details to the Receiver and
shall extend full co-operation for the purpose of execution of this order.
The SHO of the concerned PS is also directed to provide police assistance
to the Receiver to ensure smooth execution of this order.
12. The fee of the Receiver is fixed at Rs. 40,000/- (Rupees Forty
Thousand Only) 50% of which should be paid in advance to the Receiver
against acknowledgment, before proceeding in any manner under the order.
The remaining 50 % be paid contemporaneously when the receiver files his
report in the court. Steps be taken within 10 days from today in this regard.
All miscellaneous and incidental expenses shall be borne by the petitioner.
TDS, if any, shall not be included in the Receiver's Fee.
13. The Receiver shall file his report along with photographs/video, CD,
documents if any, inventory prepared if any, immediately after execution of
order.
14. For removal of doubts, it is made clear that objections/applications, if
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any, may be preferred by any borrower, guarantor, mortgagor, lessee or any
other aggrieved person before the Debt Recovery Tribunal having
jurisdiction, as per the amended provisions of section 17 of SARFAESI
Act.
15. A copy of this order be given to the petitioner bank and the Receiver.
Reader/Ahlmad of this Court is directed to inform to the Court appointed
Receiver telephonically.
16. Be put up for report on compliance on 30.11.2026.
Announced in the open Court
this 15th Day of September 2026
(Harshita Mishra)
CJM / THC/ DELHI
15.09.2026
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