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2021 Supreme(Mad) 2544

MUNISHWAR NATH BHANDARI, P.D.AUDIKESAVALU
A. Rammdass – Appellant
Versus
Indian Overseas Bank, Rep. by its Assistant General Manager, Chennai – Respondent


Advocates:
Advocate Appeared:
For the Petitioner:D. Ravichander, Advocate.
For the Respondent:F.B. Benjamin George, Advocate.

JUDGMENT :

Munishwar Nath Bhandari, J.

(Prayer: Petition filed under Article 226 of the Constitution of India praying for a writ of certiorarified mandamus calling for the records of the impugned communication dated 20.03.2020 in so far as issued by the first respondent and quash the same and consequently direct the respondents to refund the amount to the tune of Rs.21,55,288/- (Rupees Twenty One Lakhs, Fifty Five Thousand, Two Hundred and Eighty Eight only) together with interest at the rate of 12% per annum from 06.02.2008 on the said amount to the petitioner along with compensation quantified, Rs.5,00,000/- (Five Lakhs) forthwith.)

1. The writ petition has been filed to direct the respondents to refund the amount paid by the petitioner on purchase of the property auctioned pursuant to the order of the Debts Recovery Tribunal. The refund of the amount has to be paid with interest at the rate of 12% per annum from 06.02.2008.

2. The facts available on record show that pursuant to the order of the Debts Recovery Tribunal, the property of the borrower was put for auction. The petitioner remained successful in the auction. He paid the entire sale consideration. Subsequent to the payment

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