1. The appellant has filed this appeal being aggrieved by the rejection of the plaint filed under Order 7 Rule 11(d) of CPC passed by the City Civil Court, Bangalore on 22.8.2011 in O.S.NO.8639/06.

2. Heard the learned counsel for the parties.

3. The facts leading to this appeal are as under: First defendant is Bank of India. 2nd defendant is the Branch of 1st defendant, Bank of India, which Bank has advanced a loan to M/s U & I System Design Ltd. 3rd defendant has stood as guarantor. Sincc the debtor as well as the 3rd defendant did not repay the amount payable to the Bank, the property of the 3rd defendant was brought for sale invoking the provisions of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act for short). It was widely published and notified in the newspaper dt.5.4.2006 stating that property of the 3rd respondent measuring 2,83,000 sq.ft. would be sold by fixing the minimum reserve price Rs. 3 crores. Pursuant to the notification issued in the news papers to auction the property of the 3rd respondent in public auction, the appellant participated in the bid by depositing a sum of Rs. 30 lakhs as