Final Order 1

Order Details: COPY OF ORDER
Pdf Text: Ct. Cases 2024/2026
Bank of Baroda Vs Ranjan Kumar
26.02.2026
Present: Sh. Sidharth Kumar, 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 “Maruti Wagon R LXI Colour Superior
White Vehicle No. DL8CBG6873 Engine No. K10CNC498951 Chassis No.
MA3JMTB1SPMA31263 Fuel Type CNG.” 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.
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 applicant 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.
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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.
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. Sh. Lovy Bishnoi,
Advocate, Enrl. No. R/3595/2024, mobile no. 9413829000, Office at : F-227,
Karkardooma Court, Shahdara, Delhi is appointed as Receiver to take
possession of the secured asset i.e.“Maruti Wagon R LXI Colour Superior
White Vehicle No. DL8CBG6873 Engine No. K10CNC498951 Chassis No.
MA3JMTB1SPMA31263 Fuel Type CNG” 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. 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
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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 acknowledgment 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.
12. The fee of the Receiver is fixed at Rs. 60,000/- (Rupees Sixty 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.
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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
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.
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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.
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.
(Priyanka Rajpoot)
Chief Judicial Magistrate, North District,
Rohini Courts, Delhi/26.02.2026
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