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 Qtereinafter referred to as The Act) For
Takine
Possession of Secured Assets.

P.S:- (fillthe name ofPSconcerned)

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 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, U'ITAR
PRADESH-282010 & ALSO AT:- HOUSE AT PART OF
PLOT No. D-76, BALAJI PURAM, WARD LOHA MANDI,
AGRA-
282010, U'ITAR PRADESH (hereinafter referred to as
"Borrower''),
SHABANA KHAN W/o-NAVED KHAN R/o- 8/107,
KATHAHARA NIL, NAI KI MANDI, AGRA, U'ITAR
 PRADESH-282010 {hereinafter referred as "Co-
borrower"},
SHABAB DURRANI S/o-KHURSHID R/o- KESHAR VIHAR
AGRA, UTIAR 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 sa1ne be recovered by taking
possession and sale of the property/ properties
mortgaged by him/ her.

8. That the borrower(s) have committed default in

repay1nent 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 fr01n the borrowers, given by the applicant, the
borrowers failed to discharge their liability towards the
a1nount 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
duteo non-payment of Equal Monthly
Installments of the loan amount as agreedin 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.
anUd /14sof 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 sub1nitted that the Hon'ble
Supreme Court in Standard Charted Bank Vs. V. Noble
Kumar, (2013) 9 sec 620 has ruled that the secured
ff

crechtor Bank / Fjnandal Institution can approach

dfrectly to magjstrate under SecNon 14 of the Act wjthout
resorth1gmethod under Section 13(4) of the sajd 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) 1nortgage as secured
assets by Borrower:-

► HOUSE AT PART OF PLOT No. D-76 MEASURING AREA

98.87 SQ.YRDS. 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, UTIAR
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,
UTIAR 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 la.kb
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 la.kb
only) and now a total claim of a sum of Rs.
/-isdue 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
duteo 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 concemed)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 H the
secured cremtor Bank / Financial Institution can
approach direcdy 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
INRE:
I Magma Housing Finance Ltd.
....Appellant
INaved khan &
Versus
Ors. ...Respondent(s)
YAKALATNAMA
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:-

Mr.MAYANK UPADHYAY
Advocate
lnfron of Indian Bank Civil Court, Agra.
Reg. no. D/1737/13
Mob. o 7078760967
(I lereinafter calll•d ADVOCATE: to bl' my/our Advoc.1te in the above noteu case ,md authorize
them:
To act appear and plead in the ,1bove noted c.J l• in thi court or any other court in which the
same be tried or hea1·d ,md also in the appellate Courts. To si6n, file, verify anu present
ple,1dings, replications, appmls, cross-objt.'Ction!-, or petitions for execution, review petition.
restoration, withdrawal, compromise or other petitions, replies, objection!> or affiu.Jvits or other
documents a,
m,1y be deemed necessary or proper for the prosecution of U1C' ;,aid case in all its st.J e. To file
and take back uocuments.

To withdra1v, or compromise the said case or submit to arbitration any uifferences or di putes
which m,1y arise touching in ,my m,mner relatin1, to the said case. To tak out execution
proceedings. To deposit, draw and receive moneys, cht•qu('l,, .Jnd gr.int receipts thereof ant.I to
do all other .Jct ai1d thing.,, which m.Jy be necessary to be done for the progre!.., and in the
course to pro ccution of the !,aid case.

To appoint, instruct any other Legal Practitioner authorizi"S him to ell.lorcise thl' power and
authorizes hereby conferred upon the Advocate whenever lw may think fit lo do ;,o andign the
Power of Attorney on rny/ our behalf. And I/We the under<,igned do hereby agn'l' to ratify a11d
confirm act as if done by the Advocate or their!>Ubstitutes in the mattcr as my/ our own act;,, as if
done by me/us to contc•nt and purposcs.

And 1/ We undertake th:it I/We or my/our duly authorized agl'nt would appe.1r in the court on all
hearings ,md will confirm the Advoc.Jte for appear,mce when caFC is Collied And I/We the
undersigned to herebr agree not to hold the Auvocate or their substitute responsible to the result
of the said c:ise, consequences for his absence from the court when the said c,1se b c,1lled up for
hearing or any ne1,ligencc of the!>did Auvocate or hissub:.titull•.

And I/ Wl' the umforsigned do hereby agree th.Jt in thl• event of the whole or any p,1rt of the fee
agrecd by me/us to be p,1id to the Ad,•ocate maining unpaiu they will be cntitled/allmwd to
withdraw from the prosecution of the said rnse untiJ the !-ame i paid up. The fce settled is only for
the .ibove case and .ibovc• court. I/We hl•reby agree th.it onn• the fee is paid, I/We will not be
entitled to refund of the s.1me in any case whatsoc\'er, and in ca e theabove case prolongs for more
th,111 three years, the ori1,inal fee ;,hall be paid .J1,ain by me/ u . If any costs are allowed for an
adjournmcnt, the Advocate would beentitled to thesame.

IN WJTNESS WHEREOF I/WE do hereunto set my/our hands to these presents the contents of
which have been understood by me/us this daoyf , 2019.

MayankUpadhyay
CLIENT(S)
Advocate