ORDER :

Sanjib Banerjee, J.

The writ petition has, unfortunately, remained unattended to for more than five years though it pertains to bank recovery proceedings instituted in 2002 and involves orders of the years 2008 and 2015.

2. The petitioning bank questions the propriety of an order dated July 10, 2015 passed by the Debt Recovery Appellate Tribunal on the first respondent's appeal against an order dated September 18, 2008 passed by the Debts Recovery Tribunal, Coimbatore. The first respondent, a guarantor in a run-of-the-mill bank transaction, had appealed to the Presiding Officer of the Debts Recovery Tribunal under Section 30 of the then Recovery of Debts Due to Banks and Financial Institutions Act, 1993, which has now been rechristened as the Recovery of Debts and Bankruptcy Act, 1993.

3. The grievance that the first respondent carried to the Presiding Officer was the impropriety on the part of the Recovery Officer to sell a property in certificate recovery proceedings after the petitioner herein had succeeded in establishing the quantum of debt due from the borrower and the guarantor in proceedings under Section 19 of the Act of 1993. The Presiding Officer discussed the several aspects urged by the first respondent herein in great detail before repelling the appeal on the ground that it was not maintainable. The Presiding Officer held that in view of Section 29 of the Act of 1993 and the application of the provisions of, inter alia, the Second Schedule to the Income Tax Act 1961 in respect of sale of properties conducted in certificate recovery proceedings, the first respondent herein ought to have invoked Rule 61 to the Second Schedule to the Act of 1961.

4. It is necessary in the present context to see Sections 29 and 30 of the Act of 1993 and Rules 60, 61 and 62 of the Second Schedule to the Act of 1961 :

Act of 1993

"29. Application of certain provisions of Income Tax Act.—

The provisions of the Second and Third Schedules to the Income Tax Act, 1961 (43 of 1961), and the Income Tax (Certificate Proceedings) Rules, 1962, as in force from time to time shall, as far as possible, apply with necessary modifications as if the said provisions and the rules referred to the amount of debt due under this Act instead of to the Income Tax Act:

PROVIDED that any reference under the said provisions and the rules to the “assessee” shall be construed as a reference to the defendant under this Act."

"30. Appeal against the order of Recovery Officer

(1) Notwithstanding anything contained in section 29, any person aggrieved by an order of the Recovery Officer made under this Act may, within thirty days from the date on which a copy of the order is issued to him, prefer an appeal to the Tribunal.

(2) On receipt of an appeal under sub-section (1), the Tribunal may, after giving an opportunity to the appellant to be heard, and after making such enquiry as it deems fit, confirm, modify or set aside the order made by the Recovery Officer in exercise of his powers under sections 25 to 28 (both inclusive)."

Rules in the Second Schedule to the Act of 1961

"60. Application to set aside sale of immovable property on deposit. -

(1) Where immovable property has been sold in execution of a certificate, the defaulter, or any person whose interests are affected by the sale, may, at any time within thirty days from the date of the sale, apply to the Tax Recovery Officer to set aside the sale, on his depositing -

(a) the amount specified in the proclamation of sale as that for the recovery of which the sale was ordered, with interest thereon at the rate of one and one-fourth per cent for every month or part of the month calculated from the date of the proclamation of sale to the date when the deposit is made; and

(b) for payment to the purchaser, as penalty, a sum equal to five per cent of the purchase money, but not less than one rupee.

(2) Where a person makes an application under rule 61 for setting aside, the sale of his immovable property, he shall not, unless h