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IN THE HIGH COURT OF JUDICATURE AT MADRAS
D.BHARATHA CHAKRAVARTHY, J
M/s. Axis Bank Limited – Appellant
Versus
The Sub Registrar, Thirumangalam Sub-Registration Office, Thirumangalam, Madurai District – Respondent
| Table of Content |
|---|
| 1. petitioner seeks to annul encumbrance on auctioned property. (Para 1 , 2) |
| 2. prior case establishing relevance of encumbrance records. (Para 3) |
| 3. court's directive on updating encumbrance certification. (Para 4 , 5) |
ORDER
The Writ Petition has been filed seeking issuance of a Writ of Mandamus directing the first respondent to efface the encumbrance attachment entry in Document No.12 of 2024 dated 05.03.2024 on the file of the first respondent, Thirumangalam Sub Registrar Office, Madurai.
2. Upon hearing the learned counsel for the petitioner and perusing the materials placed on record, the grievance of the petitioner is that the Bank sold the subject property by way of public auction under the provisions of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act , 2002 (hereinafter referred to as the “SARFAESI Act”). It is contended that once the sale takes place under the SARFAESI Act, the same takes precedence and any prior or subsequent attachment would not affect the rights of the auction purchaser. In the present case, a subsequent attachment in respect of the same debtor was made by the second respondent, and the sa
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