Back
IN THE HIGH COURT OF KERALA AT ERNAKULAM
P. V. BALAKRISHNAN, J
MUHAMMED YAZEEN.E – Appellant
Versus
THE AUTHORISED OFFICER, UCO BANK, KOLLAM BRANCH – Respondent
| Table of Content |
|---|
| 1. auction sale under sarfaesi; purchaser's payment delay and forfeiture. (Para 1 , 2 , 3 , 4) |
| 2. rival contentions on delay, payment, and alternative remedies. (Para 5 , 6 , 7 , 8) |
| 3. writ jurisdiction barred by factual disputes and drt remedy. (Para 9 , 10) |
JUDGMENT
The petitioner, who is represented by his power of attorney holder, is the auction purchaser in an e auction sale conducted by the 1st respondent, the authorized officer of UCO bank, under the SARFAESI Act . The property, which was sold by the 1st respondent belonged to the 2nd respondent, and is having an extent of 4.66 Ares in Re.Sy.No.44/6-2 in Block No.309, of Kollam West Village, Kollam Taluk, Kollam District. The 3rd respondent is the borrower, who availed the credit facility from the 1st respondent.
2. The petitioner participated in the auction sale after remitting 10% as EMD and he was declared as the successful bidder, for a sum of Rs.1,10,05,000/-. Then, the petitioner was informed through Ext.P3 that, he has to deposit 15% of the reserve price within 1 working day and the balance 75% has to be paid within 15 days. But, the petitioner could not pay the balance 75% of the e auction bid amount i.
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
