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2015 Supreme(Cal) 478

JOYMALYA BAGCHI
Sujit Dasgupta – Appellant
Versus
State Bank of India – Respondent


Advocates Appeared:
For the Petitioner:- Amal Kumar Das, Advocate.
For the Respondents:- Swarup Banerjee, Hari Charan Yadav, and Srinibash Misra, Advocates.

JUDGMENT:

Joymalya Bagchi, J.

1. The writ petition has been filed by an unsuccessful bidder in an auction sale conducted by the respondent bank under the provisions of the SARFAESI Act. Pursuant to taking physical possession of the secured assets, the bank issued a public notice for sale of secured assets on "As is what is basis" and "Whatever there is basis". The petitioner deposited earnest money and participated in the said auction and after being declared the higher bidder, was called upon to deposit 25% of the sale amount in terms of the Clause 10 of the aforesaid public notice. The petitioner failed and neglected to do so and accordingly the respondent bank forfeited the earnest amount. Such action of the respondent bank has been challenged in this writ petition.

2. It is the contention of the writ petitioner that the petitioner did not deposit the earnest amount inasmuch as the bank was unable to furnish relevant documents relating to the secured assets which was put on sale.

3. Learned counsel appearing for the petitioner draws my attention to annexure "P-3" of the writ petition wherein the petitioner has sought for the following documents relating to the property namely, i) M
















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