SUBHASH CHAND KATHURIA Vs. PUNJAB NATIONAL BANK

JUDGEMENT

(1.) The present petition has been filed seeking quashing of order dtd. 9/1/2024 passed by the learned Chief Metropolitan Magistrate ('CMM') North-West, Rohini in case bearing no. CT 96/2024. It is alleged that the learned CMM has passed the aforesaid order without having the territorial jurisdiction.

(2.) It is submitted that the petitioner has taken a credit limit of Rs.1,40,00,000.00 from the respondent/Bank in which the respondent had kept the entire first floor with common stair case of the built-up Property No. 33, Block-D, admeasuring 200 sq. yards situated at CC Colony, opposite Rana Pratap Bagh, Delhi-110007 as a collateral security.

(3.) It is submitted that the loan account of the petitioner had been classified as Non Performing Asset ('NPA'), pursuant to which the respondent/Bank served a notice under Sec. 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, ('SARFAESI Act').