Final Order 2

Order Details: COPY OF ORDER
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IN THE COURT OF MS. RAJANI RANGA, CHIEF
METROPOLITAN MAGISTRATE, NORTH-WEST DISTRICT,
ROHINI COURTS, DELHI
Ct. CASE: 10610/2024
STATE BANK OF INDIA
Vs.
RAKESH ROSHAN
ORDER
01.08.2024
1. This is an 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 the applicant/secured creditor seeking
attachment of “HYPOTHECATION OF MARUTI SUZUKI SWIFT
LXI, CHASIS NO. MBHCZC63SKL520361, ENGINE NO.
K12MP1143597, REG.NO. DL-8C-AZ-2189, DATED
06.12.2019 IN THE NAME OF MR. RAKESH ROSHAN S/O MR.
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Chief Judicial Magistrate North-West District, Delhi.
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CHANDER MOHAN CHAUDHARY” (hereinafter referred to as
“the asset”).
2. Affidavit of the authorized officer of the secured creditor,
as required by proviso of section 14(1) of the Act, has also been
filed.
3. Section 14 of the Act enjoins the Chief Metropolitan
Magistrate to pass ‘suitable orders’ for taking possession of the
secured asset and to forward it to the secured creditor. It further
vests the Magistrate with powers to take all necessary steps and
to use force for compliance of its order.
4. The application duly supported by the affidavit and
documents, demonstrate that the respondents had availed
financial assistance from the applicant and had created security
interest on the asset. Respondents defaulted in repayment of the
loan and the loan account was declared non-performing asset.
The respondents failed to pay the outstanding loan amount even
after receiving notice under section 13 (2) of the Act which
afforded a period of sixty days to do so. As per affidavit of AR of
Bank, there is no pending objection or representation of the
respondents and that the secured asset is not under possession of
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Chief Judicial Magistrate North-West District, Delhi.
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a lessee under a valid lease made prior to creation of mortgage.
5. Accordingly, the application of the secured
creditor/applicant is allowed. Adv. Ms. Suman Yadav,
Enrollment no. D/267/2022, Mob. 9667480354 is appointed
to take possession of the asset and to forward it to the secured
creditor.
6. For securing compliance of this order, receiver may
obtain the assistance of the police and take such other steps and
use such force as is found necessary. Police shall render
assistance and provide adequate force for protection of the
receiver and of the bank employees involved in recovery of the
asset. Adv. Ms. Suman Yadav, is empowered to break open
locks in case the asset is found locked and in that eventuality he
shall prepare an inventory of the articles lying therein. She shall
then hand over copy of the inventory, duly signed by her and
witnesses, to the borrowers (if present on the site) and another
copy so signed shall be filed in court with her report. While
executing these directions, she shall observe caution not to
violate orders of any court or forum in respect of the aforesaid
property. Her fee is fixed at Rs. 40,000/-. Same shall be payable
at the time of taking over possession of the asset. Miscellaneous
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expenses, if any, in carrying out this order shall be borne by the
secured creditor. All the aforesaid terms are acceptable to the
applicant.
7. Report of compliance of the abovestated directions shall
be filed in the court within one month from today. Objections, if
any, by whomsoever concerned should be made before the Debt
Recovery Tribunal and no objection would be entertained in this
Court.
8. If the recovery proceedings are stayed by order of Debt
Recovery Tribunal or other forum, and in case the stay order is
subsequently vacated or the applicant is granted liberty to
recover possession of the property, the mandate of the receiver
to recover possession would stand extended and he shall be at
liberty to recover possession of the secured asset and to hand it
over to the applicant bank notwithstanding the expiry of aforesaid
period of one month. For this purpose, the applicant bank may
itself contact the receiver and the receiver shall recover
possession on the same terms as are mentioned in this order.
There shall be no need for the applicant bank to approach this
court for extension of time or other directions. However if the
applicant bank, of its own, decides not to recover possession, it
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Chief Judicial Magistrate North-West District, Delhi.
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shall apply to this court to terminate the mandate of the receiver
and it shall not be lawful for it to itself instruct the receiver to
refrain from or to delay the recovery of possession. 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 affidavit of
the authorized officer.
9. 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.
10. Since the directions sought by the applicant have been
passed, nothing survives in the matter. Let file be consigned to
record room after receiving compliance report. Two copies of the
order be given dasti to counsel for applicant with directions to
deliver one of the copies to receiver within ten days from today.
(Rajani Ranga)
Chief Judicial Magistrate
North-West District, Delhi.
01.08.2024
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Chief Judicial Magistrate North-West District, Delhi.
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