ORDER

[Order of the Court was made by D.KRISHNAKUMAR, J.]

Challenging the sale notice issued by the respondent bank, the present writ petition is filed.

2.The property in R.S.No.684/1 at Mathusoothanapuram Village, Agasteeswaram Taluk at Thiru Nagar Parakkai Post, Kanyakumari District belonging to the petitioner was mortgaged with the respondent bank for the purpose of availing loan by the petitioner. There were defaults in payment of loan dues. Hence, respondent bank issued the impugned sale notice to the petitioner.

3.The learned counsel for the petitioner submits that the respondent bank without following the procedure as contemplated under the Rules in force issued the possession notice and the sale notice with respect to the secured assets and the respondent bank has undervalued the secured asset and brought it for auction. He further submits that the petitioner is ready to settle the entire loan amount under the One Time Settlement scheme. However, the respondent bank without considering the said request, has issued the impugned sale notice. 4.The learned Standing Counsel for the respondent bank submitted that the auction was conducted and the property was sold to a third party.