ORDER :

M.S.Ramachandra Rao, J.

The petitioner in this Writ Petition is the State Bank of India.

2. The State Bank of India along with other consortium banks, had granted a loan amounting to Rs.133 crores to the 5th respondent- Company in 2012 for Working Capital, and as security for the said loan, a commercial unit bearing D.No.12-10 with land admeasuring Acs.0.25 gts. in Sy.No.657 of Satamrai Village, Shamshabad Mandal, Ranga Reddy District (for short ‘the subject property’) belonging to the said company was charged to the Bank along with other properties.

3. The said charge was registered with the Central Registry of Securitization Asset Re-construction and Security Interest of India (CERSAI) on 08.04.2000.

4. As the 5th respondent did not repay the loan dues, and committed default in making re-payments to the petitioner, the loan account of the 5th respondent was declared as a Non-Performing Asset on 13.10.2012.

5. Thereafter, proceedings under the SARFAESI Act, 2002 were initiated and the property was put to public auction on 26.10.2020 through an auction notice dt.15.09.2020.

6. M/s.Khargandhi Properties Pvt. Ltd. ( for short ‘the auction purchaser’) was declared highest bidder for