HIGH COURT OF MADHYA PRADESH
Smt. Mishri Bai – Appellant
Versus
Shubh Laxmi Mahila Cooperative Bank Ltd. – Respondent
Petitioners have filed the present petition being aggrieved by
the letter dated 02.03.2022 (Annexure P/16) written by the
Tehsildar, Knadiya, Indore/ respondent No.3 whereby petitioners
and respondents No.4 and 5 were directed to hand over the physical
possession of the ground floor of property situated at EB-250 (Old
No.BB-1), Sector-B, Scheme No.94, Near Bombay Hospital, Indore
(M.P.).
The facts of the case in short are as under:
[2]
Respondents No.4 and 5 took financial assistance of Rs.
35,00,000/- each (two loans) from respondent No.1/Bank. The
petitioners have stood as guarantors by mortgaging the property
situated at EB-250 (Old No.BB-1), Sector-B, Scheme No.94, Near
Bombay Hospital, Indore (M.P.) (hereinafter referred to as
''mortgaged property'') as a security against the said two loans. In
the month of January 2018, the aforesaid two loan accounts were
classified as None-Performing Assets (in short 'NPA') by the
- : 3 :-
respondent No.1/Bank followed by the issuance of notice under
Section 13(2) of the Securitisation and Reconstruction of Financial
Assets and Enforcement of Security Interest Act, 2002 (hereinafter
referred to as ' the SARFAESI Act). After receip
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