M. Venugopal, J.

1. The Petitioner has filed the present Writ Petition praying for issuance of a Writ of Certiorarified Mandamus calling for the records of the Respondent/Bank relating to the impugned communication dated 11.02.2013 and to quash the same. Further, the Petitioner has also sought for refund of Rs.4.70 Lakhs together with interest at 18% per annum by the Respondent/Bank to him.

2. According to the Learned Counsel for the Petitioner, the Respondent/Bank brought out an advertisement in leading dailies inviting sealed tenders from the prospective purchasers to purchase the vacant property of an extent of Rs.1330 Sq. ft. belonging to one R.Devendran in Survey No.27/1 and 32/1 in Pozhichalur Village, Saidapet Taluk, Chennai MGR District. Also that the Respondent/Bank purported to have taken possession on 21.06.2012 under Section 13(4) of the Securitisation and Reconstruction of Financial Assistance and Enforcement of Security Interest Act, 2002, in order to recover a sum of Rs.11,36,088/-.

3. Moreover, the claim of the Respondent/Bank is that the property has been mortgaged in its favour by the borrower [D.Raghuraman] who availed the credit facilities. The last date for submission of tender was fixed as 20.11.2012 till 5.00 p.m. The date and time of opening the tender was fixed as 21.11.2012 at 10.30 a.m.

4. The Learned Counsel for the Petitioner brings it to the notice of this Court that the Petitioner submitted his tender for Rs.18.80 Lakhs along with Earnest Money Deposit of Rs.1.70 Lakhs and he was declared as the Successful Bidder by the Authorised Officer. The Respondent/Bank through letter dated 21.11.2012 directed the Petitioner to pay 15% of the sale price besides the EMD amount. Added further, the Petitioner was required to pay the balance 75% of the sale consideration within 15 days from the date of communication of sale confirmation.

5. The Respondent/Bank, by means of letter dated 28.11.2012, acknowledged the Petitioner's payment of Rs.4.70 Lakhs by way of Demand Draft being the 25% of the bid amount and directed him to pay the balance 75% of the amount viz., Rs.14,10,000/-within 15 days. The Petitioner applied for encumbrance certificate to ascertain any subsisting encumbrance over the property and found that the property viz., the subject matter of the auction stands in the name of G.Shanmugam and G.Sekar. These two persons, through Sale Deed dated 11.01.2001, have purchased the property [registered Document No.250/2001] from Devendran and they mortgaged the property with the Tambaram Cooperative Building Society Limited on 08.06.2001 as per the registered mortgage deed bearing Document No.1390/2001. From the encumbrance certificate, it transpired that the aforesaid persons redeemed property from Tambaram Cooperative Building Society through receipt dated 25.03.2008 [vide registered Document No.1220/2008]. Subsequently, they created an Equitable Mortgage by depositing 'Title Deeds' on 13.04.2009 with Repco Bank, as per the registered Document No.1275/2009.

6. The Learned Counsel for the Petitioner strenuously contends that in view of the aforesaid encumbrances surrounding the property, the Petitioner addressed a letter dated 11.12.2012 wherein he had stated that always he was ready to remit the balance amount, provided the bank dispels the clog over the clear title of the property. However, he had not received any reply from the Respondent/Bank. Again he issued a reminder on 19.01.2013.

7. The Respondent/Bank issued a reply on 02.02.2013 stating that the Petitioner convinced that the mortgagor's title is not disputed and that he paid the 25% of the bid amount on the same day because of the said reason. Also, the Respondent/Bank informed him that G.Shanmugam and G.Sekar filed a SARFAESI Appeal during the last week of November 2012 before the Debts Recovery Tribunal-III and the same was disposed of on 02.01.2013. Also that the Petitioner, if he could not pay the amount on or before 05.02.2013, t