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IN THE HIGH COURT OF JUDICATURE AT MADRAS
MR.MANINDRA MOHAN SHRIVASTAVA, CJ, MR.JUSTICE SUNDER MOHAN, J
M.Z.Fazlur Rahman – Appellant
Versus
M/s.Arka Fincap Limited – Respondent
| Table of Content |
|---|
| 1. facts establishing the auction and subsequent dispute. (Para 2) |
| 2. maintainability of writ against a private financial institution. (Para 3 , 5 , 9) |
| 3. arguments surrounding refund obligations and legal precedents. (Para 6 , 7) |
| 4. legal framework for issuing writs against private entities. (Para 10 , 11 , 12) |
| 5. limitations on issuing mandamus to private financial institutions. (Para 13 , 14 , 15 , 16) |
| 6. dismissal of the petition and potential for other remedies. (Para 17) |
ORDER
(Order of the Court was made by the Hon'ble Chief Justice)
This petition has been filed by the petitioner praying for issuance of writ of mandamus or any other appropriate writ or direction directing the first respondent/private financial institution to refund the sale price of Rs.1,35,30,000/- deposited by the petitioner, along with interest at the rate of 24% p.a. from 05.05.2025 till the date of repayment.
2. Quintessential facts leading to the filing of the instant petition are stated infra: Respondent No.1 is a private financial institution and is a secured creditor, which proceeded to auction a secured asset in the form of a mortgage created in its favour by the borrower. The petitioner eme
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