ORDER :

R. MAHADEVAN, J.

The relief sought in this writ petition is to issue a writ of mandamus, directing the second respondent Bank to refund a sum of Rs.55,50,000/- paid towards tender-cum-auction sale dated 17.09.2012, to the petitioner along with interest at 24% from the date of deposit of Earnest Money Deposit till refund.

2. According to the petitioner, he is the auction purchaser in respect of the land admeasuring 3250 sq.ft together with the building with a built up area of 1075 sq.ft. in ground floor at Door No.9, Jesudasan Street, Radha Nagar, Chrompet, Chennai 600 044, comprised in S.No.432/9 of Zameen Pallavaram Village, pursuant to the public auction conducted by the second respondent Bank on 17.08.2012. The bid amount was Rs.55,50,000/-. Originally, he deposited a sum of Rs.4,22,091.48 towards EMD on 16.08.2012 and an additional of Rs.9,68,000/- on 17.08.2012. After emerging him as a successful bidder, he deposited the remaining bid amount of Rs.41,62,000/- with the second respondent Bank on 24.08.2012. The respondent Bank issued the sale certificate in favour of the petitioner for the said property on 17.09.2012, however, possession was not handed over to him, till dat