JUDGMENT :

1. Rule. Rule made returnable forthwith. By consent of counsel for the parties, the petition is heard finally.

2. By this Petition filed under Article 226 of the Constitution of India, 1950, Petitioner seeks to challenge the order dated 15.08.2021 passed by respondent no.2-District Magistrate, Solapur under Section 14 of the Securitisation And Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (“SARFAESI Act”) in Secu./SR/64/2020 and the auction notice dated 20th February, 2021 issued by Respondent No.1 – Bank and also the auction which has already taken place and sale price received from Respondent No.5.

3. The facts leading to the filing of the petition are as under:-

Petitioner had availed of financial assistance of term loan and cash credit facility of total amount of Rs. 4,55,00,000/- from the respondent no. 1 Bank out of which a total of Rs. 2,69,00,000/- was disbursed on the security of its property i.e. factory property at village Kumbhari, Solapur and house property at New Pacchha Peth, Solapur.

4. On 31.05.2019, the respondent no. 1 bank declared the account of the petitioner as Non Performing Asset (NPA). On 09.07.2020, respondent no.