Heard finally with the consent of both the parties.

In this petition under Article 227 of the Constitution of India, the

petitioner has assailed the illegality, validity and propriety of the order dated

13.05.2023 (Annexure P-7) and 30.12.2022(Annexure P-2) passed by the Chief

Judicial Magistrate(referred to as 'CJM' hereinafter), Indore as per Section 14 of

the Securitization and Reconstruction of Financial Assets and Enforcement of

Security Interest Act, 2002(referred to as 'SARFAESI Act' hereinafter).

2. The brief facts of the case are that the petitioner is the erstwhile owner

of the secured assets. The petitioner sold the property forming the secured

assets to the borrowers of respondent no.1 on 20.09.2020. The borrowers in

this case are respondent no.2 and 3. The borrowers took loan facility from

respondent no.1/bank. When the borrowers failed to repay certain installments,

the respondent no.1/bank took measures under the SARFAESI Act and

ultimately, filed an application u/S 14 of the SARFAESI Act before the learned

CJM, Indore to take administrative assistance for obtaining possession of the

secured assets. The CJM, Indore passed the impugned order directing the

respondent no.1 to take th