Final Order 1

Order Details: COPY OF JUDICIAL PROCEEDINGS
Pdf Text: 24 MISC CRL / 920/2026
Omkara Assets Reconstruction Private Ltd
Vs. Sunil Singh and Anr
29.04.2026
Fresh application u/sec. 14 of SARFAESI Act received. It be
checked and registered as per rules.
Present: Sh. Ashutosh, Ld. Counsel for applicant along with
AR.
1. This order decides the application under Section 14
of the Securitization and Reconstruction of Financial Assets and
Enforcement of Security Interest Act, 2002 (hereinafter referred
to as “the Act”) moved by present applicant praying that
possession of the secured asset may be taken and delivered to the
applicant. The property, described as “All that piece and parcel
of the property/land and building bearing plot no. IX/3552
(new) 917/39-A/2 (old) out of khasra no. 116, 119 and 120,
situated in residential colony known as Jain Mohalla,
Dharmapura, Gandhi Nagar, Area of village Seelampur,
Illaqa Shahdara, Delhi-110031 Area admeasuring 50 sq. yds.
Bounded as-
East- Road;
West- Other property;
North- Other property;
South- Part of property” is stated to be a secured asset, as
secured interest was created upon the same by the borrowers to
secure repayment of the financial assistance/loan provided by the
applicant.
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2. The application is accompanied by the affidavit of the
authorized officer of the secured creditor, as required by proviso
of section 14 (l) of the Act. The application, supporting affidavit
and documents demonstrate that the applicant is a secured
creditor whereas the respondents are borrowers within the
meaning of the Act. The affidavit further discloses the extent of
financial assistance granted and the claim of the applicant as on
the date of filing the application. It also emerges from the
affidavit that the borrowers have defaulted in repayment of the
financial assistance/loan. The loan account has already been
declared a Non-Performing Asset.
3. The affidavit has further averred that the secured creditor
had issued the statutory notice under section 13 (2) of the Act but
the respondents have failed to discharge their liability in full
within the stipulated period of sixty days from the date of notice.
As per the applicant, no objection received from the borrowers is
pending.
4. Original documents relied upon by the applicant were
produced for the inspection of the court. After inspection, the
original documents were returned.
5. I have heard the submissions made by the Ld. counsel for
the applicant and perused the application, affidavit of authorized
officer, title deeds of the asset and other supporting documents.
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6. Section 14 of the Act mandates the Chief Judicial
Magistrate to pass suitable orders for taking possession of the
secured asset and to forward it to the secured creditor. It further
vests the Chief Judicial Magistrate with powers to take all
necessary steps and to use force for compliance of its order.
7. Accordingly, the present application is allowed. Ms.
Megha Singhal, Enrollment No. D/11011/24, Mobile No.
8802966356, Office at: “Chamber Block, E-207, 2nd floor,
KKD Courts, Shahdara, Delhi-32” is appointed as Receiver to
take possession of the secured asset i.e. “All that piece and
parcel of the property/land and building bearing plot no.
IX/3552 (new) 917/39-A/2 (old) out of khasra no. 116, 119 and
120, situated in residential colony known as Jain Mohalla,
Dharmapura, Gandhi Nagar, Area of village Seelampur,
Illaqa Shahdara, Delhi-110031 Area admeasuring 50 sq. yds.
Bounded as-
East- Road;
West- Other property;
North- Other property;
South- Part of property” and to forward it to the secured
creditor.
8. The Receiver shall give possession notice to the
Authorized Officer of the secured creditor and the borrower, to
be served personally / 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.
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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 as well as the Receiver. Copies of the inventory duly
signed as stated above shall be handed over to the borrowers, if
present at the site, under acknowledgement and also to the
Authorized Officer of the applicant.
10. After taking over the possession of the aforesaid secured
asset, the Receiver shall forward the same to the applicant
through its Authorized Officer. The Receiver shall exercise all
due care and caution to not violate the orders of any Court or
forum relating to the aforesaid property.
11. The applicant shall furnish all necessary details to the
Receiver and would extend full co-operation for the purpose of
execution of this order. The SHO of the Police Station concerned
is also directed to provide police assistance to the Receiver to
ensure smooth execution of this order.
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12. The fee of the Receiver is fixed at Rs. 30,000/- (Rupees
Thirty Thousand Only), which should be paid in advance to the
Receiver against acknowledgement.
13. It was held by the the Hon’ble Delhi High Court in the
judgment of Cholamandalam Investment and Finance
Company Limited vs. Rajeev Chawla and Ors. CM(M)
No.716/2021 dated 22.10.2021 that time is essence in the
proceedings initiated under SARFAESI and the purpose behind
the Act will be frustrated, if there are delays in implementing the
order passed under this Act. Accordingly, it is directed that the
Receiver shall issue the possession notice to the Authorized
Officer of the secured creditor and to the borrowers within
seven working days of receiving the copy of this order.
14. The Receiver shall file his report along with
photographs/video, CD, documents if any, inventory prepared if
any, within one month of the execution of this order.
15. For removal of doubts, it is made clear that
objections/applications, if 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.
16. If the recovery proceedings are stayed by Debt Recovery
Tribunal or any other forum and in case the stay order is
subsequently vacated and the applicant is granted liberty to
recover the possession of the property, the mandate of the
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receiver to recover possession would stands extended and he/she
shall be at liberty to recover the possession of secured asset and
hand over the same to the applicant of this case. For this purpose,
the applicant through Authorized Representative may itself
contact the Receiver and the Receiver shall recover the
possession of the same on the same terms as mentioned in this
order and there shall not be any requirement for the applicant to
approach this court for the extension of time or any other
directions. However, if the petitioner of its own decides not to
recover the possession, it shall apply to this court to terminate the
mandate of the Receiver and it shall not be lawful for the
petitioner to itself instruct the Receiver to refrain from or to delay
the recovery of possession.
17. If the applicant, of its own, decides not to recover the
possession of the secured asset because of any reason, then it
shall be mandatory on the part of the applicant to inform about
the same to the court within a week, from the date of order,
failing which the applicant shall be liable to pay the fee amount
to the Receiver.
18. In case there is delay on the part of the applicant in
compliance with this order, the same shall be explained by the
applicant bank by filing affidavit in this regard of the authorized
officer, in the court.
19. Nothing stated in this order shall be construed as a finding
of liability or a judicial determination of the issues in contention
between the parties.
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20. The application is accordingly disposed of. No further
proceedings are required by the undersigned on this application.
Thus, file be consigned to the Record Room after due compliance
21. Ahlmad/Reader is directed to inform the Receiver
immediately regarding his/her appointment in the present matter.
A copy of this order be given to the Receiver as well as to the
Counsel/AR of the applicant for compliance.
(Prigya Gupta)
CJM/East/KKD Courts/Delhi
29.04.2026
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