JUDGMENT - Dr. D.Y. CHANDRACHUD, J.:---The dispute in these proceedings arises in relation to the auction of residential property comprised of Flat No. 82-C, situated at Dadar Pashim Apartments, Dadar, Mumbai. In a dispute filed by the fifth respondent, which is a Co-operative Bank, against the borrower to whom the bank had sanctioned a Bill Discounting Facility, the Co-operative Court by an award dated 28th June, 1995, decreed the claim of the bank in the amount of Rs. 16,26,545/- as on 5th February, 1992 together with interest at the rate of 20% per annum. An execution certificate was thereafter issued by the Co-operative Court on 28th September, 1995, under section 98 of the Maharashtra Co-operative Societies Act, 1960 ("the Act").

2.The award was then sought to be executed under the authority of the Fourth respondent, who is the Special Recovery Officer duly empowered under section 156 of the Act and Rule 107 of the Rules framed thereunder. The fourth respondent has been duly empowered by an order dated 19th April, 2001 passed by the Commissioner to act as a Special Recovery Officer, save and except in regard to determining the upset price for the purposes of auction sale.

3.Orig

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