1. The brief facts of the case is as follows:-

The respondent bank had conducted an auction sale of property situated at Door No. 2/393 and 394, Kengari Revenue Village Panchayat, comprised in Survey No. 193, Kilkotagiri, Nilgiris District on 02.02.2012 under the SARFAESI Act, 2002, by inviting tenders for open auction. The petitioner was declared as successful bidder. The respondent had issued a sale certificate after receiving a sum of Rs. 11,50,000/- towards sale consideration. On the same day, the possession of the property was also handed over to the petitioner. After taking possession, the petitioner realised that the property auctioned in Old Survey No. 193 has been changed into New Survey No. 404/8 which in turn was sub divided as S. No. 404/8-A, 8B and 8C and that an extent of 3.70 cents alone was physically available. As per the tender notification, the said property was described to be comprised in S. No. 193, admeasuring an area of 6.50 cents. The petitioner trusting on the terms of the tender notification, had participated in the auction thinking that he was purchasing 6.50 cents. When it was factually realised that the property was only 3.70 cents and not 6.50 c