ORDER

Per: Justice Sushrut Arvind Dharmadhikari This writ petition under Article 226 of the Constitution of India has been filed by the petitioners being aggrieved by the order dated 01.07.2024 passed by the Additional District Magistrate, District Rajgarh in Case No. 0641/B-121/2024-25 whereby direction has been issued for taking over the possession of the subject property belonging to the petitioners.

2. Brief facts of the case are that petitioners approached respondent No.3/Bank for availing housing loan of Rs. 1,15,00,000/- by way of equitable mortgage of property bearing Plot No. 30, situated at Ward No. 5, Village Kurawar and Plot No. 825, Ward No. 05, Pargana Block, Tehsil – Narsingarh, District Rajgarh (MP). The petitioners serviced the interest to the respondent/bank. After sometime, due to financial distress, the account of the petitioners was declared as Non Performing Asset (NPA) account. Respondent No.3/bank invoked the actions under the realm of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 [referred to as 'SARFAESI Act' hereinafter]. Subsequently, respondent No.3/Bank filed an application under Section 14 of the S