JUDGMENT

(Dated this the 23^rd day of January, 2026)

The petitioner is the successful bidder in an auction conducted by the 2^nd respondent. The e-auction was conducted on 28.10.2025 for an amount of Rs.6,30,10,000/-. Subsequently, the petitioner deposited Rs.1,57,52,502.80/- being the 25% of the bid amount, and the sale was confirmed in favour of the petitioner. Ext.P2 is the sale confirmation. The petitioner is required to pay the balance bid amount within three months of the sale confirmation, i.e., on or before 30.01.2026. At present, the petitioner is in the USA and is making earnest efforts to remit the balance.

2. The learned counsel for the petitioner submits that the petitioner has sufficient funds but he has to be back in India for payment of the entire amount. He, therefore, seeks time till 14.02.2026. The petitioner has already filed Ext.P3 representation before the 1^st respondent on 19.01.2026, and is pending without any orders.

3. The learned Standing Counsel on instructions submits that as per the Security Interest (Enforcement) Rules , 2002, on every sale, the purchaser shall immediately pay 25% of the bid amount. The balance amount of purchase price payable shall be pa