ORDER :

R.DEVDAS, J.

1. Learned Counsel Sri K.V.Shyam Prasad, has entered appearance for respondent No.1Bank on caveat.

2. With the consent of the learned Counsel for the petitioner as well as the learned Counsel for respondent No.1Bank, the matter is taken up for final disposal.

3. The petitioner is the borrower from the first respondent Bank. On failure of the petitioner to repay the outstanding amount due, the Bank proceeded to initiate action under The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as the ‘SARFAESI Act’ for short). Notice of sale of the immovable property was issued on 08.11.2019 for conducting auction on 30.11.2019. Even as per the first respondent Bank, the amount outstanding is Rs.35,83,216/.

4. The petitioner approached the Debts Recovery TribunalI, at Bangalore in S.A.No.563/2019. The DRT, by order dated 28.11.2019 stayed the confirmation of sale, subject to condition that the petitioner should deposit Rs.5,00,000/on or before 29.11.2019 and another sum of Rs.3,00,000/on or before 20.12.2019. It is an admitted fact that the conditions have been fulfilled by the petitioner.

5. Lear