BEFORE THE HON'BLE DISTRICT MAGISTRATE, AGRA

5ARFAE8l APPLICATI0_N.NO, f20J9

A.yplication U/s 14 of Securitization and Reconstruction of

Flnancial Assets and Enforcement of Security Interest
Act, 2002 (hereinafter referred to as The Act) For
Taidng Possession of Secured Assets.
P.S:- (flll the name of PS concerned)
Sir,
The applicant begs to submit as follows:-
1. That the a}ipllCflIit Magma Housing Finance Ltd is a
Non- banking Finance Company incoi pointed and i
egistered guider the Companies Act of 19S6 having its
Register ed Office at 8, Sant Nagar , East of’ Kailash, New
Delhi-110065, and having aiiiongst other one of its Bi
anch Office at 6"' Floor , Block No. E-12/8 Shi ee Vi
indavaii Tower , Sanjay Place, Agra- 282002 and is doing
business of providing financial assistance to its customer
s.

That at pi esent Mr. Vinay Kumar Gautam is the

Authorized Ol'licei and also Power of Attoi iiey holder of
the applicant Company and is author ized to execute the
i ights of a secui ed creditoi undei the pi ovisions of
Securitizatioii And Reconsti uction of Financial Assets And
Eiifoi cement of Secui ity litter est Act, 200.2 (her einaftei
i efei i ed to as the Act) he is well convex sant with the facts
of the case and is filling this application on behalf of the
ci editor Company.

3. That the NAVED S/o- ANIS KHAN, R/o- 8/107,

KATHAHARA NIL, NAI KI MANDI, AGRA, UTTAR
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 R/o- 8/107,
KATHAHARA NIL, NAI KI MANDI, AGRA, UTTAR
 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 i eqiiest, wei e gi anted financial
assisMnce by way of Honce Loan of Rs. 2,000,000/-
(Rupees twenty lakh only) under loan agi eement No.
HL/0094/H/14/100012 dated 28/08/2015 and the Co-
Boi i owei s joined the bori ower in the said loan facility.
The said loan was repayable in 240 Equal Monthly
Installments, each of Rs. 22,022/-.

4. That the aggi egate 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 dtie against
the Boi i owers as on dated due to non-payiiieiit
of Iquated Monthly Installments of the looms.

5. That the terms and conditions of the loan agi eeinents

eiitei ed into between the par ties we1 e accepted to the
boi i owei s and thei eaftei all the boi i owei s have
executed var ions documents iiicluding the Loan
Application, Loan Agi eenients and Demaiid Pr omissoi y
notes in i espect of the said loans.

6. That in or dei to secrii e the loan amount, the boll owei (s)
had ci eated seciii ity interest over propei ty/ pi opei ties
and that Bank / Financial Institution is holding a valid and
subsisting seculity interest over such piopeity /
pi operties and claim of the Bank / Financial Institution is
within the limitation per iod.

7. The boi i ower(s) had deposited the title deed ot’ his / her
immovable }ii opei ty/ pi operties to ci eate equitable
mortgage of his / 1ie1 propei ty/ propei ties given below
:-
Bearing HOUSE AT PART OF PLOT No. D-76, BALAJI
PURAM, WARD LOHA MANDI, TEHSIL & DISTRICT-
 AGRA-282010 (More parti culai‘ly, desci-ibed in the
sched tile of this application). The boi rowei (s) as
mentioned above had mortgaged his / her propel ty /
properties as boi rower and irndei-took to pay the
said loans togetlie i with interest and expen ses and
also under took that in cuse of any defaiil t is
committed by the them, the same be recovered by
taking possession and sale of the pi operty/ prope
ivies inortgaged 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 ii i‘egu
lai as the cheques issued by the Boi rowe i were return
ed iinpaid by the ban kei of the Borrower(s) and despite
several remi riders for payme nt of the amount due from
the borrowers, given by the app licant, the boi rowers
failed to discliai‘ge their liability towai‘ds the aintount
outstanding in their respective loan accounts No.
HL/0094/H/14/100012.

9. That now a total sum of Rs. - is due

against the Bora owei s as on dated due to
non-paym ent of Equal Monthly Install inents of the toan
amoun t as agreed i n the Ioan ag; eements e xectite d
between the Applicant/ Coiii pany and the Dorrowers.
Consequently, upon such default in i epayiiient of
financial uest s tance(s) the account of the Bor rowers,
have been classified as Non-Performing Assets (NPA) on
dated 30.11.2017 in accordance with the giiidelin es of
Resei ve Ba nk of lndia.

10. Tflat as aforesaid since the Borro wers failed to

discli arge their liability to repay the amount due fi om
them; Demand Notice(s) dated 22/12/2017 were
served upon the Borrowei-s which wei e drily served
upon the
 Bori owei s, as required U/s 13(2) of the aforesaid Act.
But despite the sei vice of the said notice(s) the Boi i
owei s
failed to discharge tlieii liability even after the expiry of
the statutory period of 60 days.

11. That no such objections or repi esentations in reply

to the notice(s) have been received fi om the boi
rower(s).

12. That aftei expii y of’ the 60 days fi om the date of’
sei vice of the afoi esaid Demand Notices, but despite
service of said notices the Borrowers have neithei paid
the outstanding amount nor had they handed ovei the
possession of the pi opel ty in question.

13. That the said sectii ed assets i.e, the iliimovable

propei ty i efei i efl in the schedule given at the foot of
this application is situated within the jui isdiction of
P.S.
and U/s 14 of the aforesaid Act, it may
be stated, that you ai e the competent authority to take
possession of the said sec in e assets and documents
i elating thereto and foi wai d stich assets and
documents to the sectii ed creditoi s af'tei possession
and to take all suitable steps awal to use such foi ce as
may be necessary for taking poss ession of the sai ‹1
secured assets as pi ovided U/s 14(2) of the Act.

14. The copies of notices U/s 13(2) or the Act, Loan

Applications, Loan Agi eements, Demand Promissory
Letter regai ding deposit of title deed by the
Ooi i owei s, the title deed deposited by boi i owei s
alid statement of account ai e enclosed herewith f‘oi the
kind perusal of the Hon'b1e court.

15. That the Applicant Company / Financial Institution

had complied with the pi ovisions of The Securitization
and Reconstruction of Financial Assets and
Enforcement of Security Interest Act, 2002.
 16. That, fur thei, it is humbly submitted that the Hoii'ble
Supreme Comm t in Standard Charted Vs. V. Noble
Kumar, (2013) 9 SCC 620 has i tiled that f/ie secm eel
credifor Baiik / Fiiiaiicial liistinitioii caii approach
direcf/y fo mapis i me iiiideJ .Secfioii 7.4 of the Acf mif/ioof
reset iiigmethod nuclei 6ecfioii 13(4) oLtIie shref Act.

17. Hence, this Application.

It is thei efoi e, i espectfully pi ayed that possession of the

said immovable pi opei ty(s) which is the seciii ed assets of
the Boi i owei (s) may pleased be taken and thei eaftei the
said assets be deliver ed to the Applicant / Company or pass
aliy such or dei which the Hon'ble Com t deems just and pi
opei in the cii cumstaiices of the iiiatter.

SCHEDULE TO THE PROPERTY(S) MORTGAGED

Detail of the immovable pi operty(s) inor tgage as seciii ed
assets by Boi i owei”.-

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 bouncier as follows:-
East — HOUSE West — REMAINING PART OF PLOT No. D-76
hl rth — HOUSE OF BHAGWAN SINGH AND R.P. SINGH
South — 9 FEET WIDE ROAD.

Date:
Housing Finance
Ltd.)
Tlii oiigli

(MAYANK UPADHYAY)
ADVOCATE
 BEFORE THE HON'BLE DISTRICT MAGISTRATE, AGRA
SARFAESI A 1.lC$TlON NO. /2019

Magma Housing Finance Ltd.

Applicant

Versus
PNUSH SAXENA & ANR ...Respondelit(s)

Affidavit of Vinay Kumar Gautain S/o Sh.

H.K. Gaiitani aged about years
Principal Officer & Power Attoi iiey Holder
of’ Magrat a Housing Finance Ltd at 6”' Floor
, Block No. E-12/8 Str ee Vi indavan Tower
, Sanjay Place, Agi a- 282002.
I, the above named depone nt do her eby soleiiiiily affii m and
state on oath as follows:-

1. That the applicant Magma Housing Finance Ltd is a

Now-banking Finance Company incoi poiated and
i egistei ed undei the Companies Act of 1956 having its
Register ed Office at 8, Sant Nagar , East of Kailasli, New
Delhi-110065, and having aiiioiigst other one of its
Bi anch Office at 6'“ Floor, Block No. E- 12/8 Shree
Vriiidavan Tower , Sanjay Place, Agi a- 282002 and is
rloing business of’ pt oviding financial assistance to
its
customer s.
z. That at pi esent Mr. Vinay Kumar Gautam is the
Authorized Of'ficer and also Power of Attoi iiey holder
of'
the applicant Company and is authorized to execute the
i ights of a secured creditor undei the pi ovisions of
Secui itizatioii And Recoiisti uction of Financial Assets
And En IS1cemen t of’ Secui ity lliterest Act, 2002
(her einaftei i eferi ed to as the Act) he is well
convei sant with the facts of the case and is filling this
application on behalf of the ci editor Company.
3. That the NAVED KHAN S/o- ANIS KHAN, R/o- 8/107,
KATHAHARA NIL, NAI KI MANDI, AGRA, UTTAR
PRADESH-282010 & ALSO AT:- HOUSE AT PART
OF PLOT No. D-76, BALAJI PURAM, WARD LOHA
MAHDI,
AGRA-282010, UTTAR PRADESH (hereinafter
referred to as ”Borrowers, SHABANA KHAN W/o-
NAVED KHAN R/o- 8/107, KATHAHARA NIL, NAI KI
MANDI, AGRA,
UTTAR PRADESH-282010 (hereinafter referred as
‘Co- borrower"}, SHABAB DURRANI S/o-KHURSHlD
R/o- KESHAR YIHAR, AGRA, UTTAR PRADESH-
282010
(hereinafter referred as “Co-borrower") on their
request, wei e granted financial assistance by way of
Home Loan of Rs. 2,000,000/-(Rupees twenty
only) under loan agi eemeiit No.
HL/0094/H/14/100012 dated 28/08/2015 and
the Co-Boi i owei s joined the boi i owei in the said
loan facility. The said loan was i epoyable in 240 Equal
Monthly Installments, each of’Rs. 22,022/-.

4. That the aggie gate amount of gi aiited financial

assistance is of Rs. 2,000,000/-(Rupees twenty
only) and now a total claim of a sum of Rs.
/- is due against the Boi roweis as on
dated dtie to non-payment of Equated
Monthly Installments of’the loans.

That the ter ms and conditions of the loan agi eements

enter ed into between the par ties wei e accepted to
the bori owei s and thereafter all the bo1 i owei s
have executed various documents including the Loan
Application, Loan Agi eements and Demand Pi
omissory notes in i espect of the said loans.

6. That in ordei to secure the loan amount, the

boi rowei(s) had created secui ity interest over
pi opei ty/ pi operties and that Bank / Financial
Institution is holding a valid and subsisting sectli ity
inter est over such pi opei ty / pi opei ties and claim
of
 the Dank / Financial Institution is within the
limitation per iod.

7. The boi i owei (s) had deposited the title deed of his /
her immovable propei ty/ pi opei ties to ci eate
equitable moi tgage of his / her pi operty/ propei ties
given below :-
Bearing HOUSE AT PART OF PLOT No. D-76, BALAJI
PURAM, WARD LOHA MANDI, TEHSIL & DISTRICT-
AGRA-282010 (Moi e par ticrila i ly, descl ibed in the
schedule of this application). The boi rowei (s) as
iiientioned above had inoi tgaged his / hei pi opei ty /
propei ties as boi i owel and undei took to pay the said
loans together with Intel est and expenses and also
undei took that iii case of' any default is committed by
the them, the same be recovei ed by taking possession
and sale of the pt operty/ pi operties moi tgaged by
him / her.
8. That the boi iowei (s) have committed default in
i epayinent of aggie gate amount of Rs. 2,000,000/-
(Rupees twenty only)as granted financial
assistance and the account of the Boi rowei (s) was
i winning ii i egulai as the cheques issued by the
Doi i owei wei e i etui ned unpaid by the banker of the
Boi i owei (s) and despite several i eminders for
payment of the amount due fi om the boi rowers, given
by the applicant, the bori owei s failed to discharge
their liability tower ds the amount outstanding in
their I espective loan accounts No.
HL/0094/H/14/100012.

9. That now a total sum of Rs. - is due

against the Boi i owei s as on dated due to
non-payment of Eqn al Monthly llistalliuents of the loan
amount as ag; eed iii the loan ag; eements executed
between the Applicant/ Coiiipaiiy and the Boi i owei s.
Conseqtiently, tipo ii stic h defatilt lli i epay me tit of
financial assistance(s) the account of the Bori owei s,
have been classified as Non-Performing Assets (NPA)
on dated 30.11.2017 in accordance with the guidelines
of Resei ve Dank of India.

10. That as aforesaid sin ce the Boi i owers failed to

discliai ge their liability to repay the amount due
from them; Demand Notice(s) dated 22/12/2017
wei e sei ved upon the Bori owei s which were duly
served upon the Bori owers, as i eqtiii ed U/s 13(2)
of the afolesaid Act. But despite the service of the said
notice(s) the Bori owei s failed to discharge their
liability even after the expii y of‘ the stattitoiy period
of 60 days.

11. That no stich objections or representations in i eply

to the notice(s) have been received from the borrowei
(s).

12. That after expii y of the 60 days fi om the date

of’ sei vice ot the afoi esaid Demand Notices, btit
despite seiwice of said notices the Borrowers have
neither paid the outstanding amount nor had they
handed over the possession of the propei ty in
questioll,

13. That the said secured assets i.e. the immovable

propei ty i efei i ed in the schedule given at the foot of
this application is situated within the jam isdiction of
P.S. (fl11 the name of PS concemed)aiid U/s 14 of’ the
aforesaid Act, it may be staterl, that you ai e the
competent authority to take possession of the said
secui e assets and documents relating thei eto and for
wal d such assets and documents to the seciiied
creditors after possession and to take all suitable
steps and to use such force as may be necessary for
taking possession of the said sectii ed 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 Agi eements, Demand Pi omissoiy
Notes, Letter regai ding deposit of title deed by the
Boi i owers, the title deed deposited by boi i owers
and
 statement of account ai e enclosed he1 ewith for the
kind pei iisal ot the Hoii'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, ftii thei , it is liuinbly siibiiiitted that the Hoii'ble

Stipi eme Cotirt in Standard Charted Bank Vs. Y. Noble
Kumar, (2013) 9 SCC 620 has i uled that rhe secifrecl
credifoi Baiik / FiiJductal liistitaâoii cam approFch
dii ec ly fO mdgis H â e imcler Section 1.4 of the Act
without resoi tiiig method iiiicler Section 13(4) of f/ie
said Act.

17. That Hence, this ApplIC8tIOIJ.

Deponent

Ver ified that contents of’ Par a no. 1 to 2 aie based on

per sonal knowledge and the contents of Para no.3 to 17 of this
affidavit ai e based on i ecoi d and legal advice which I believe
to be ti tie and cor i ect no part of’ it is false and nothing has
been Colicealed tliel ein. So help us God.
Signed and verified at Agi a 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 N0. /2019
IN nE:
 Magma Houaing Finance Ltd.
....AppeI1ant

KNOW all to whom these presents shall come that I, Vinay Ku mar Gautam s/O Sh. H.K
Gautam, Authorized officer, Magma Housing Finance having its branch office at 6"
Floor, Block No. E-12/8 Shree Vrindavan Tower, Sanjay Place, Agra- 282002.
The above named do hereby appoint:-

MrNtäYANR WADHYAY
Advocate
Infron of Indian Bank Civil Court, Agra.
Reg, no. D/1737/13
Mob. No 7075760967
(hereinafter called ADVOCATE to be my/our Advocate in the above noted case and authorize
therrc
To act appear alum plead in fhe above noted case in this court or any other court in which the
same be tried or heard and also in the appellate Courts. Tn sign, file, verify and present
plea‹Jings, replications, appeals, cross-objections, or petitions for execution, rev •w petition,
restorati‹m, withdrawal, comprnmkse nr other petitions, replies, ot›Jecrions or affi‹Iavits pr other
dmurnents ah may be deemed necessafy or pr‹iper for the pioeecution of the said caee in All its
stage. To file and take baclt documents.

To withdraw, or cnmprnmise the said case or submit to arbitration any differences or disputes
l4'hit may arise tomhJrig in any manner relating to the said can. To tame out execut%n
proceedings. To deposit, draw and receive moneys, cheques, and front receipts thereof and to do
all nther act and things which may be necessary to be done for the progress and in .the course to
prosecution nd the said case.

To appoint, instruct any nther Legai Practitiomr authm-izirig him to exercise the power and
authorizes hereby conferred upon the Advocate vv'heriever he nay think fit to do so and sign fhe
Puwer of Attorney on rtiy/our hehatf. And 1/We the undersigned do hereby agree to ratify and
confirm act as if done. by the Adve<ate or their substitutes in the matter as my/our ownacts, as. if
done by rue/us to contents and purposes.

Intl I/we undertake that i/we ‹›r 3/our duly authorized agent would appear in the court on
all hearings and wi]l confirm the Advocate for a ppearanœ when caæ is called. And I/ We the
undersigtted to hereby Agree not tu hold the Adveeate or their substitute w. pnnsible to the resiilt
of the said case, imnsequerrces for his ab'ærice hmm the rnurt wlten the said case is called up for
hearing nr any négligence of the said Advcicate or his substituts.

And I/Wc the undersigrted du heretrf agree that in the evenf où the wltole or .sziy {Part cet the dee
agrced by me/us to be puid to the Advc›rate remaining unpaid they wlll be entitled/allowed to
withdraw frnm the prosecuäori of the said case until the same is paid up. The fee aettled is nnty for
the above case aod abcive cnurt. I/We hereby agree that once the fee is païd, f/We will not be
entitled to refund of the ome in any case whatsoever, and in case the above casr prolongs for more
than three years, fte c›rdginal fee shall be paid again by die/ us. If any costs are atlowed for an
adjournmrnt. the Advocate would be entitleÖ to the same.

IN WITNESS WHEREOF §Tt'E do meteorite act cry/our iiands to these presents the contents
of which have been understood by mi;6is this day of , 2019.

CLIEMT(S}