1. The issue involved in this case is whether the attachment ordered over the property by a Civil Court, much after the creation of the security interest over the same in connection with a loan obtained by the borrower from the first petitioner/Bank, is having any adverse consequence with regard to the rights and liberties of the Bank and the successful bidder - who has satisfied the sale consideration, in the public auction pursuant to the proceedings under the SARFAESI Act (Act in short).

2. The sequence of events as narrated in the writ petition shows that the property in question was given as security by the owner, while availing the loan from the first petitioner/Bank. In view of the continuing defaults, the Bank proceeded with steps issuing Ext.P1 notice under Section 13(2) of the SARFAESI Act, on 10.10.2008. Since there was no response on the part of the defaulter, the Bank filed a petition under Section 14 of the Act, before the Chief Judicial Magistrate's Court, Ernakulam, and as per the order passed therein, an Advocate Commissioner was deputed and the physical possession of the property was taken over. After publishing Ext.P2 notice, Ext.P3 notice was issued, fol