JUDGMENT :

S.ABDUL NAZEER, J.

Leave granted.

2. These appeals are directed against the Orders dated 30.12.2015 and 06.01.2016 in Case C.C. No.381/SA/2014 passed by the Chief Metropolitan Magistrate, Esplanade, Mumbai, rejecting the Application (Exh.8) filed by the appellant herein for restraining HDFC Bank, the first respondent herein, from taking possession of the property in the appellant’s possession.

3. HDFC Bank had granted financial facility to respondent nos.2 and 3 (for short, ‘the Borrowers’) of Rs.5,50,00,000/(Rupees Five Crore Fifty Lakhs). On 03.04.2013, the Borrowers had mortgaged a property bearing Flat No.501, 5th Floor, Solitaire, Village Kopari, Adi Shankaracharya Road, MHADA Layout, Powai, Andheri (E), Mumbai (for short, “the Secured Asset”) in favour of the Bank with an intention to secure the said credit facility.

4. The accounts of the Borrowers were declared as non-performing assets (NPA) on 31.10.2013. On 25.01.2014, the Bank issued a notice under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, “SARFAESI Act”) to the Borrowers. It is the case of the appellant that he is a tenant