1. On consent, the writ petition is taken up for final hearing.

2. The relief sought for in this writ petition is for issuing appropriate direction to the second respondent/State Bank of Mysore to refund the sale advance of Rs.25,20,000/- paid to the schedule mentioned property on 11.3.2010.

3. The brief facts which are relevant for consideration herein are as follows:

The third respondent borrowed money from the second respondent bank and the property belonging to the third respondent was mortgaged in favour of the bank as security for repayment of the amount. The third respondent defaulted in discharge of its liability resulting in bringing the property for sale and tender cum auction sale notice was issued in the newspaper on 27.1.2010. The petitioner herein participated in the bid and was declared as the successful bidder for an offer of Rs.1,00,95,000/-. Pursuant to the same, the petitioner has paid a sum of Rs.17,18,352/-towards 25% of the sale consideration and the time was given to the petitioner for paying the balance sale consideration of Rs.75,75,000/- on or before 26.3.2010. In the mean while, the petitioner applied for encumbrance certificate in respect of t