JUDGMENT

The petitioner is stated to be a Co-operative Bank, operating under the provisions of the Kerala Co- operative Societies Act, 1969, and under the sanction of the Reserve Bank of India.

2. The petitioner says that they had obtained equitable mortgage over the property involved in this case from respondents 5 and 6, who had availed of a loan from them on the strength of collateral security having been created over it, towards its repayment.

3. The petitioner alleges that, however, since respondents 5 and 6 refused and failed to honour their commitments under the loan agreement, they were constrained to bring the property in question into sale, under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as 'the SARFAESI Act', for short); and since there were no bidders, they themselves purchased it. They say that, however, when they presented Ext.P3 Sale Certificate before the 2nd respondent – Sub Registrar, he refused to accede to it, saying that there are various attachments over the property, as are reflected in Ext.P5 Encumbrance Certificate.

4. The petitioner says that, since all