V.RAMASUBRAMANIAN,J.

1. A person, who participated in an auction conducted by the respondent-Bank under th SARFAESI Act, came up with the above writ petition seeking refund of the earnest mone deposited by him. However, after the writ petition was filed, the writ petitioner died and his w and children have been substituted in his place.

2. We have heard Mr.T.Arockiadas, learned counsel for the petitioners and Mr.Jayesh B.Dol learned counsel for the respondent-Bank.

3. In respect of credit facilities availed by one K.P.Nagarajan, Proprietor of M/s.L.G. Textiles, the year 2001, the respondent-Bank initiated proceedings in O.A.No.360 of 2004 on the file the Debt Recovery Tribunal, Madurai, for recovery of a sum of Rs.74,98,000/-. Subsequent the Bank switched over to the SARFAESI Act and issued a demand notice under Section 13( on 27.8.2008. It was followed by a possession notice dated 28.02.2009. After takin possession, the Bank issued a sale notice dated 08.5.2009, fixing the auction sale o 15.6.2009. Since there was no bidders, another auction was fixed on 26.02.2010. Even th auction did not materialise. The properties were put up for auction for a third time on 02.8.2