DEVINDER GUPTA. C. J.

( 1 ) PETITIONERS in this petition filed under Article 226 of the constitution of India on 22-11-1999 are seeking to have the sale by public auction, held on 30-12-1998 with respect to land situated in Survey Nos. 32/1, 32/2, 32/3, 33/1, 92 and 93 of Jeedimetla village and pet Basheerabad village (hereinafter referred to as the land in question ) by the 3rd respondent and the consequential confirmation made on 27-1-1999, set aside as illegal, violative of provisions of the Recovery of Debts Due to Bank and Financial Institutions Act, 1993 (Act No. 51 of 1993), (hereinafter referred to as the Act ), without authority of law and against the directions of this Court.

( 2 ) IN order to understand the points urged and raised before us, it will be necessary to mention the background facts in which the petitioner filed the writ petition and the other facts and circumstances which were brought to our notice: The petitioners allege that on 10/10/1991 Respondent No. 5 Society through its Managing director entered into an agreement with the petitioners for sale of the property in question for a total consideration of Rs. 90,00,000. 00, out of which Rs. 22,53,000. 00 wa

Click Here to Read the rest of this document