1. The petitioner purchased a parcel of land, 22.10 ares in extent, situate in Sy.No.142/7 of Manjapra Village, Aluva Taluk, Ernakulam District in a sale conducted on 17.9.2009 under section 49 of the Kerala Revenue Recovery Act, 1968 at the instance of the Kerala Financial Corporation (hereinafter referred to as “the Corporation” for short). The Corporation had lent money to Sri. K.C. Joseph, to whom the land belonged, for establishing a rice mill. When he defaulted repayment of the loan, the Corporation took steps to recover the amount advanced by it, by recourse to the provisions in the Kerala Revenue Recovery Act, 1968 (hereinafter referred to as “The Act” for short). Thereupon, the aforesaid parcel of land was attached, brought to sale and sold in public auction on 17.9.2009. The petitioner who quoted Rs.30,75,000/- was the successful bidder in the auction.

2. As per the terms of the sale proclamation, the petitioner remitted the sum of Rs.4,62,000/- on 17.9.2009 itself and the balance sum of Rs.26,13,000/- on 14.10.2009. The Deputy Collector (Revenue Recovery), Kerala Financial Corporation, Thiruvananthapuram, confirmed the sale as per Ext.P1 order dated 21.6.2010. A