JUDGMENT :

Muralee Krishna, J.

This writ appeal is filed under Section 5(i) of the KERALA HIGH COURT ACT ,1958, by the respondent in W.P.(C) No.20391 of 2023, challenging the judgment dated 18.12.2023 passed in that writ petition.

2. The respondents participated in the auction sale of the immovable property of M/s.Pushpa Diams, conducted by the appellant, invoking the provisions under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (‘SARFAESI Act’ in short). They successfully bid at the auction for a sum of Rs.1,11,10,000/- and as stipulated deposited Rs.28,10,000/-, which is inclusive of the EMD, being 25% of the purchase price. The balance sale consideration of Rs.83,00,000/- has to be remitted by the respondents on or before 19.12.2021, i.e., within 15 days from the date of the sale confirmation. But the respondents could not remit the balance sale price within the stipulated time of 15 days. On 28.02.2022, the respondents requested the appellant to grant two months more time for payment of the balance sale price. But, by the letter dated 05.04.2022, the appellant informed the respondents that the e- auction sale held on 04.1