NAZIR AMHAD Vs. DEVELOPMENT CREDIT BANK DCB LTD.

JUDGEMENT

(1.) Present petition has been filed challenging the order dtd. 28/6/2024 passed by the Chief Metropolitan Magistrate (CMM), South District, Saket Courts, Delhi whereby a receiver was appointed for taking possession of the Petitioner's property bearing no. B-220/1, part of Khasra no.548/135, Savitri Nagar, New Delhi-110017 ('subject property') and the possession notice dtd. 8/11/2024 issued by the Receiver to take possession of the subject property on 25/11/2024. The Petitioner further challenges the order dtd. 19/11/2024 passed by DRT-II, Delhi in TSA No. 324/2022 whereby the application filed by the Petitioner for stay on possession notice dtd. 8/11/2024 was dismissed.

(2.) Learned counsel for the Petitioner states that on 5/11/2007, the Petitioner had mortgaged the subject property with Citi Financial Consumer Finance India Limited to avail a home equity loan of Rs.10,90,000.00 which was subsequently transferred to Respondent no.1-Bank in 2013-2014. She states that the Petitioner re-paid the entire amount along with interest by January, 2020.

(3.) She states that Respondent no.1-Bank issued a demand notice dtd. 19/4/2021 under Sec. 13(2) of SARFAESI Act calling upon the Petitioner to pay an amount of Rs.4,94,132.86. She states that the Petitioner filed S.A. No.36/2022 before DRT-I, Delhi whereby vide order dtd. 17/1/2022, Respondent no.1-Bank was restrained from taking physical possession of the subject property subject to payment of Rs.1,50,000.00 by the Petitioner. S.A. No. 36/2022 was subsequently transferred to DRT-II, Delhi being TSA No. 324/2022.