JUDGMENT

1. Heard finally at admission stage by consent of the parties. Rule. Rule made returnable forthwith.

2. By way of this present Writ Petition, the petitioner/auction purchaser is challenging the order dated 29.05.2015 passed by respondent No.3 in Misc. Application No.43 of 2014 filed by respondent No.7 herein, thereby condoning the delay of 376 days caused in filing the revision petition.

3. Respondent No.7 is the owner of the property in dispute. Respondent No.7 had mortgaged the disputed property for availing the loan on 28.08.1997 with respondent No.6 / Devgiri Nagari Sahakari Bank Limited (herein after referred to as 'Bank'). It appears that respondent No.7 had availed the loan of Rs. 15,00,000/- (Rupees Fifteen Lacs only) and mortgaged the disputed property with the bank by executing all the necessary legal documents. Respondent No.7 has thereafter committed default in the repayment and despite the final notice served on him, failed to repay the borrowed amount, respondent No.6-bank has obtained the recovery certificate as provided under Section 101 of the Maharashtra Co-operative Societies Act, 1960 (herein after referred to as 'the Act'). Thereafter, the valuation of th