JUDGMENT :

1. Rule. Rule made returnable forthwith.

2. By consent, heard both the sides finally at the admission stage.

3. By this petition under Article 227 of the Constitution of India, petitioner is challenging the validity of the auction proceedings vide which, properties mortgaged with the bank-respondent No. 4 came to be sold in auction to respondent No. 9.

4. Facts leading to this petition can be summarised as under :—

Petitioner is the owner of property block Nos. 440 and 437 situated at Warwati, Tq. Ambejogai, Dist. Beed. He is also the owner of land block No. 102 situated at Girwali, Tq. Ambejogai, Dist. Beed. Petitioner had taken loan from respondent No. 4-bank by mortgaging lands Block No. 440, 437 and 102. Since the petitioner defaulted in payment of loan, proceedings under section 101 of Maharashtra Co-operative Societies Act (for short “MCS Act”) came to be initiated which resulted in issuance of certificate under section 101 of the MCS Act. Upset price was fixed at Rs.98,10,000/-.

5. It is further contended that the Special Recovery Officer-respondent No. 5 decided to sell the mortgaged lands i.e. block No. 440, 437 and 102. He, therefore, issued a proclamation date