ORDER

Heard finally with the consent of both the parties.

By way of the instant writ petition, the petitioner has assailed the order dated 11.01.2014 passed by respondent no.1 whereby the application u/S 14 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 (referred to as 'SARFAESI Act' hereinafter) filed by the petitioner has been dismissed.

2 . Brief facts of the case are that the petitioner is engaged in the business of banking. Respondent no. 2 to 9 have availed credit facility to the tune of Rs. 3,50,00,000/- on equitable mortgage/security of Plot No. 54, Padmavati Colony, Indore and House alongwith Plot No. 426/R, Mahalaxmi Nagar, Indore from the petitioner/bank. The account of the respondents no. 2 to 9 was classified as Non Performing Asset (for short 'NPA') due to defaulted repayment of loan as per the terms and conditions. Notice u/S 13(2) of the SARFAESI Act were served upon the respondents. Petitioner filed application u/S 14 of the SARFAESI Act before the respondent No.1/Additional District Magistrate, Indore for taking possession of the properties in question from the respondents no.2 to 9. The responde