IN THE HON’BLE COURT OF CHIEF JUDICIAL MAGISTRATE, MOHALI

APPLICATION NO.__________OF 2025

(Under Section 14 of the Securitization and Reconstruction of Financial Assets
And Enforcement of Security Interest Act, 2002)

IN THE MATTER OF:

Phoenix ARC Private Limited
(Acting as Trustee of Phoenix Trust FY23-10)
3rd Floor, Wallace Towers (earlier known as Shiv Building),
139/140/B/1, Crossing of Sahar Road and Western Express Highway,
Vile Parle East, Mumbai, Maharashtra – 400057
Through its Authorized Officer Mr. Sailesh Iyengar
----Secured Creditor/Applicant
VERSUS

1. Mr. Sudhir Kumar s/o Mr. Ram Chander (Borrower)

House No 68, Phase 2,
Mohali 160055

Also, At
Sudhir Kumar
Flat No. 97, First Floor, 3BHK, Khewat No. 209, 210
Khatoni No. 242, 243, Khasra No. 33//10/2 (1-18),
10/3(2-2), 11(1-2),13/ 1(2-0) - At Maa Shimla Homes (Part I), Tehsil Kharar-Mohali- 40301

2. Mrs. Roshni Devi (Co-borrower)

House No 68, Phase 2
Mohali 160055

-----Respondents / Borrowers

PETITION/APPLICATION ON BEHALF OF SECURED CREDITOR UNDER SECTION 14 OF

SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY
INTEREST ACT, 2002. AMENDED AS ON DATE

The Applicant Company / secured creditor most respectfully submit as under:

1. The Applicant Phoenix ARC Private Limited (hereinafter referred as Phoenix ARC Pvt. Ltd.) is a
company incorporated under the Companies Act, 1956 , having its registered Office at 3rd Floor,
Wallace Towers (earlier known as Shiv Building), 139/140/B/1, Crossing of Sahar Road and

Western Express Highway, Vile Parle East, Mumbai, Maharashtra – 400057 and is a notified
Company under the Securitization and Reconstruction of Financial Assets and Enforcement of
Security Interest Act, 2002 (hereinafter referred to as the Act).It is engaged in the business of
providing Credit / Loan facilities to its customers and accepting term deposits from public at
large.

2. That the Applicant further states that, Mr. Sailesh Iyengar, Authorized officer in consonance
with and under Rule 2 (a) of the Security interest (Enforcement Rules 2002) of the Applicant is
 fully authorized, empowered and competent to sign and verify the application, file documents,
as may be just necessary in the interest of the Applicant and to do all and every co-related acts
as may deem fit and proper in the interest of the Applicant in connection with the present case.
The copy of the Letter of Authority / Power of Attorney of the Authorized Officer are enclosed
hereto as Annexure- A.

3. That the present petition U/s 14 of the Act is being moved by the Applicant/ Secured creditor,
for seeking assistance from the Hon'ble Court in enforcement of Security interest in immovable
property as mentioned hereunder:- All that Piece and Parcel of Flat No. 97, First Floor, 3BHK
Khewat No. 209, 210 Khatoni No. 242, 243, Khasra No. 33//10/2(1-18),10/3(2-2),11(1-
2),13/1(2-0) - At Maa Shimla Homes (Part 1), Tehsil Kharar-Mohali, Adm:-1350, Sq.Ft. Parvati
Enclave Pin Code:- 140301 Bounded By:-
East:- Others West:-Road
North:- Gurudwara Sahib South:- Stairs

4. That the Respondents 1 &2 Name have availed Housing Loan/Non Housing Loan credit facility of
Rs. 23,50,000/- (Rupees Twenty-Three Lakh Fifty Thousand Only) against the security of
Property as mentioned above with an undertaking of repayment of the said financial assistance
in terms of the said agreement from Grihum Housing Finance Limited earlier known Poonawalla
Housing Finance Limited/ Magma Housing Finance Limited) (hereinafter referred as “Assignor
Lender”) As such Respondents Constitute Principal Borrower. The copy of the Loan Agreement
vide Account No. HL/0038/H/14/100160 is annexed herewith and marked as Annexure B.

5. That the Respondents in order to secure the repayment of the said financial assistance, have
created an equitable mortgage by deposit of original title deeds in respect of the Secured Asset
as envisaged in Sec 58(f) of TPA Act with the Applicant with an intention to secure the said
housing loan facility and in favor of the Applicant FI along with Title Deeds signifying
Respondents intention of creating equitable mortgage over the said property. The copy of the
Title Deed of the subject property are annexed herewith and marked as Annexure-C.

6. That after availing the aforesaid facilities, the Respondents did not adhere to financial discipline
and failed to deliver on their financial commitments. In consequence thereof, the subject loan
account was declared Non-Performing Asset (NPA) on 31/05/2019. This is as per the account
maintained by the Applicant Company in the usual course of its day to day business. The Copy of
NPA is annexed herewith at Annexure-D.

7. That borrowers/ guarantor are under obligation to pay Rs. 32,62,174.91 (Rupees Thirty-Two
Lakh Sixty-Two Thousand One Hundred Seventy-Four and paisa Ninety-One Only) as on

17.01.2024 along with future interest up to date to the Company. This is as per the account
maintained by the applicant company in the usual course of its day to day business. That the
total claim of a sum of Rs. 3,843,207.27 is due against borrowers as per Statement of Account
dated 20.01.2025 is annexed herewith at Annexure-E.
 8. That thereafter, Applicant Company through a demand notice dated 19/02/2024 U/S 13 (2) of
the Act demanded the Respondents to clear dues in full. Despite service of the said notice,
Respondents failed to clear the dues. The copy of the Demand Notice U/S 13 (2) dated
19/02/2024 along with Postal Receipt is annexed herewith at Annexure-F.

9. The Applicant further says and submits that, despite the said notice dated 19/02/2024 the
Respondents have neither complied with the requisitions for payment of outstanding loan
amount within the stipulated period of 60 days as mentioned in the said notice dated
19/02/2024 nor raised any objections/replied to the said Notice under Section 13 (3-A) of the
SARFAESI Act and never approached the Applicant for showing their bonafide for payment of
outstanding loan amount. Therefore, the Applicant are desirous of taking physical possession of
the Secured Asset in peaceful manner under the provisions of sub-section (4) of Section 13 on
06.11.2024 and same was published in newspapers of English language and vernacular language
on 12th November’2024 herewith at Annexure-G read with Section 14 of the SARFAESI Act by
taking assistance of this Hon’ble Court as the Respondents had committed default in repayment
of the said loan.

10. That in the above circumstances, the Applicant Company is left with the only option to approach
this Hon'ble Court for exercising its powers under section 14 of the Securitization and
Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and to take
possession of the secured assets, being mortgaged property and forward the same to the
applicant company.

11. That the Hon’ble High Court of Punjab & Haryana at Chandigarh has passed the order dated
06.09.2021 in CWP No. 4916 of 2020 by means of which it has been categorically and specifically
stated that all the District Magistrates or Chief Metropolitan Magistrates or any authority
conducting the cases under section 14 of the SARFAESI Act, 2002 are directed that the said cases
under section 14 shall be decided within a period of 30 days as has been stated in the act.

12. That the provisions of this Act and rule made there under have been compiled by the Applicant
Company.

13. That accordingly, the Applicant seeks to invoke the jurisdiction of this Hon’ble Court in
pursuance of section 14 of the said SARFAESI Act, 2002 to secure peaceful physical possession of
the secured Asset described in the schedule written herein above.

14. The Applicant submits that this Hon’ble Court is conferred with the territorial jurisdiction qua
the secured Asset as described schedule hereunder written. In the other words, the secured
Asset is situated at Mohali District within the territorial Jurisdiction of this Hon’ble Court.

15. That the applicant further submits that this Hon’ble Court is conferred with the jurisdiction qua
the secured Asset as the Hon’ble Supreme Court of India, in case titled as “Indian Bank v. D.
 Visalakshi & Anr. 2019(4) RCR(Civil) 952” held that CJM is equally competent to deal with the
application move by the secured creditor under Section 14 of the 2002 Act. It is, further,
submitted that in the case titled as “Abhishek Mishra v. State of U.P., Civil Misc. Writ Petition
No. 17778 of 2016”, the Hon’ble Allahabad High Court held in the concluding para - “We are of
the considered view that nomenclature ‘Chief Metropolitan Magistrate’ used in Section 14 of the
Act, 2002 is inclusive of ‘Chief Judicial Magistrate’ functioning in a non-metropolitan area and
shall have jurisdiction to entertain an application made by a secured creditor under Section 14 of
Act, 2002.”

16. That it would be in the interest of the justice that this Hon'ble Court be pleased to take
possession through any officer subordinate to him including advocate commissioner of the said
asset/ property mentioned above and documents thereto and forward the same to the
Applicant Company.

-: PRAYER :-
It is therefore most respectfully prayed that this Hon'ble Court be pleased to:-

1. To take possession through any officer subordinate to him including advocate commissioner of
the Secured asset.

To direct SHO/ In charge of the concerned police station to help Authorized Officer to take the
possession of the following secured asset which includes the breaking open of lock (s), wherever
necessary All that Piece and Parcel of Flat No. 97, First Floor, 3BHK Khewat No. 209, 210 Khatoni
No. 242, 243, Khasra No. 33//10/2(1-18),10/3(2-2),11(1-2),13/1(2-0) - At Maa Shimla Homes (Part
1), Tehsil Kharar-Mohali, Adm:-1350, Sq.Ft. Parvati Enclave Pin Code:- 140301 Bounded By:-
East:- Others West:-Road
North:- Gurudwara Sahib South:- Stairs
2. Pass any other or further order as this Hon'ble Court deems fit and proper in the facts and
circumstances of the case.
For
Phoenix ARC Pvt. Ltd.
(Acting as Trustee of Phoenix Trust FY23-10)

Authorized Officer
Dated: _____________
Place: Mohali

Through Counsel:
Sanya Ahuja, Abhinay Kumar Bhalotiya
Advocates

VERIFICATION:
I, Ashwini Verma, Authorized Officer, of the Applicant having its office address mentioned in
cause title, do hereby verify that the contents of above mentioned paragraphs are stated on
information and belief as gathered from the records maintained by Applicant Company and that I
have not suppressed any material facts.

Dated:
For
Phoenix ARC Pvt. Ltd.
(Acting as Trustee of Phoenix Trust FY23-10)
Authorized Officer
Mr. Sailesh Iyengar
IN THE HON’BLE COURT OF CHIEF JUDICIAL MAGISTRATE, MOHALI

APPLICATION NO.__________OF 2025

IN THE MATTER OF:

Phoenix ARC Private Limited
(Acting as Trustee of Phoenix Trust FY23-10)
…APPLICANT
VERSUS
Mr. Sudhir Kumar & Mrs. Roshni Devi
…RESPONDENTS

AFFIDAVIT
I, Mr. Sailesh Iyengar, Authorized officer, Phoenix ARC Private Limited, do hereby solemnly affirm and
declare as under:-

1. That the deponent is the authorized officer of the applicant Company and is conversant with the
facts and circumstances of the present case on the basis of the records maintained by the
applicant Company and as such the deponent is competent to swear the present affidavit.

That the deponent states that the present petition U/s 14 of the Act is being moved by the
Applicant/ Secured creditor, for seeking assistance from the Hon'ble Court in enforcement of
Security interest in immovable property as mentioned hereunder: All that Piece and Parcel of Flat
No. 97, First Floor, 3BHK Khewat No. 209, 210 Khatoni No. 242, 243, Khasra No. 33//10/2(1-
18),10/3(2-2),11(1-2),13/1(2-0) - At Maa Shimla Homes (Part 1), Tehsil Kharar-Mohali, Adm:-1350,
Sq.Ft. Parvati Enclave Pin Code:- 140301 Bounded By:-
East:- Others West:-Road
North:- Gurudwara Sahib South:- Stairs

2. That the deponent states that the provisions of this act and the rules made there under had
been complied with.

3. That the deponent states that the Respondents Rs. 23,50,000/- (Rupees Twenty-Three Lakh
Fifty Thousand Only), against the security of Property with an undertaking of repayment of the
said financial assistance in terms of the said agreement. The such Respondents constitutes
Principal Borrowers. The loan was sanctioned by Grihum Housing Finance Limited earlier
known Poonawalla Housing Finance Limited/ Magma Housing Finance Limited) (hereinafter
referred as "Assignor Lender").

That the deponent states that Respondents 1 & 2 to secure the repayment of the said financial
assistance created equitable mortgage in favor of the Applicant Company by depositing the original
property documents/Title Deed of the said property signifying respondents’ intention of creating
equitable mortgage over the said property i.e. All that Piece and Parcel of Flat No. 97, First Floor,
3BHK Khewat No. 209, 210 Khatoni No. 242, 243, Khasra No. 33//10/2(1-18),10/3(2-2),11(1-
2),13/1(2-0) - At Maa Shimla Homes (Part 1), Tehsil Kharar-Mohali, Adm:-1350, Sq.Ft. Parvati
Enclave Pin Code:- 140301 Bounded By:-
East:- Others West:-Road
North:- Gurudwara Sahib South:- Stairs
4. That the borrower has created security interest over the said property and the applicant
company being Financial Institution is holding a valid and subsisting security interest over said
property.

5. That the deponent states that after availing the facilities Respondents did not adhere to financial
discipline and failed to deliver on their financial commitments. In consequence there of subject
account was declared Non-Performing Asset (NPA) on 31.05.2019 with the guidelines issued by
the National Housing Company (NHB)/RBI. And borrowers are under obligation to pay pay Rs.
32,62,174.91 (Rupees Thirty-Two Lakh Sixty-Two Thousand One Hundred Seventy-Four and
paisa Ninety-One Only) as on 17.01.2024 along with future interest to the Company. This is as
per the account maintained by the applicant Company in the usual course of its day to day
business.

6. That the total claim of a sum of Rs. 3,843,207.27 is due against borrowers as per Statement of
Account dated 20.01.2025

7. That the deponent states that thereafter Applicant Company through a demand notice dated
19/02/2024 U/S 13 (2) of the Act demanded the Respondents to clear dues in full. Despite
service of the said notice, Respondents failed to clear the dues. The Respondents have not
complied with the requisitions for payment of outstanding loan amount within the stipulated
period of 60 days as mentioned in the said notice.

8. That the borrower has not raised any objections/replied to the said Notice under Section 13 (3-
A) of the SARFAESI Act and never approached the Applicant company for showing their bonafide
for payment of outstanding loan amount.

9. That Symbolic Possession was attempted on 06.11.2024 and same was published in newspapers
of English language and vernacular language on 12th November ’2024.

10. That the deponent states that in the above circumstances, the Applicant Company is left with
the only option to approach this Hon'ble Court for exercising its powers under section 14 of the
Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act
2002 and to take possession of the secured assets, being mortgaged property and forward the
same to the applicant Company.

11. That the deponent states that it would be in the interest of the justice that this Hon'ble Court be
pleased to take possession of the said asset/ property mentioned above and documents thereto
and forward the same to the Applicant Company under the provisions of sub-section (4) of
section 13.
12. That the applicant Company has not initiated any similar proceedings before any other court till
date and no stay has been granted in favour of the borrower against the secured creditor by any
competent court of law. As per record of the Company, the property is neither subject to any
attachment nor subject matter of injunction by any court of law or tribunal.

13. That there is no legal impediment in allowing the accompanying application under section 14 or
the applicant company has not received any notice or restraint / stay order with respect to
taking over the possession of the mortgaged property.

14. That the accompanying petition Under Section 14 of the Securitization and Reconstruction of
Financial Assets and Enforcement of Security Interest Act, 2002, has been drafted by the counsel
under my instructions, the contents of the same has been read over and explained to me and I
have acknowledged them to be correct and true to the best of my knowledge and belief.

15. That the provisions of this Act and rule made there under have been compiled by the applicant
Company.

16. That the deponent states that as per the information received and provided by the borrower
that the secured asset is not in the possession of a tenant or a lessee under a valid lease, made
prior to the date of creation of mortgage or made in accordance with the Section 65A of the
Transfer of property Act prior to the receipt of a notice under the Sub Section (2) of Section 13
of the SARFAESI Act by the borrowers.

17. That the secured asset is not on agricultural land and therefore there is no bar under section 31
of the SARFAESI Act, 2002 and also by other provisions of the said Act.

18. That the Property in respect of the present case exists and is identifiable as per law.

19. That the deponent further submits that this Hon’ble Court is conferred with the jurisdiction qua
the secured Asset as the Hon’ble Supreme Court of India, in case titled as “Indian Bank v. D.
Visalakshi & Anr. 2019(4) RCR (Civil) 952” held that CJM is equally competent to deal with the
application move by the secured creditor under Section 14 of the 2002 Act

DEPONENT
 VERIFICATION

Verified at Mohali on this ____day of ________, 2025 that the contents of the above affidavit
are true and correct to my knowledge and belief as per the records available with the Branch and
nothing material has been concealed there from.

DEPONENT