Bank of India, the petitioner herein, advanced housing loan of Rs.15,00,000/- as well as overdraft facility of Rs.15,00,000/- to respondents 2 and 3. A house situated at Sainikpuri (hereafter, the secured asset) was mortgaged to secure the loan. When respondents 2 and 3 committed default in repayment, the petitioner issued two notices of demand under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereafter, the SARFAESI Act or the Act), demanding a total sum of Rs.32,65,132/-. The borrowers were called upon to clear the loan within 60 days. They did not pay. The petitioner, therefore, issued possession notice under Section 13(4) of the Act and filed Crl.M.P.No.98 of 2008 under Section 14(1) and (2) of the Act for taking possession. The Court of the Chief Metropolitan Magistrate, Cyberabad at L.B.Nagar, appointed an advocate commissioner to take possession of the mortgaged property. The advocate commissioner could not deliver the notice as respondents 2 and 3 were not staying in the house. In the mean while, one Lalithnarayan, who claiming to have purchased the secured asset under an agreement of s