ORDER

The petitioner is a bank represented by its authorised officer cum Chief Manager, having its Regional Office in Madurai. The 4th and 5th respondents are the absolute owners of the property to an extent of 64 cents land comprised in UDR S.No.104/1 (Old S.No.220/1) of Kalikappan bit II Village, Madurai Noth Taluk, Teppakulam Sub-Registration District, Madurai District.

2.The respondents 4 and 5 being partners of the 3rd respondent firm, mortgaged the subject property with the petitioner bank by deposit of their title deeds, pertaining to the subject property, which was duly recorded in a memorandum of deposit of title deeds dated 14.12.2015, registered as document No.4085/2015 as secured creditor for the loan availed by them. Since the loan amount has become Non Performing Asset [NPA], the bank has initiated SARFAESI proceedings, which led to the auction sale of the subject property and the sale was finalised and certificate was also issued to the buyer 6th respondent herein.

3.In the meanwhile, the 2nd respondent claiming to be unsecured creditor of 3rd respondent appeared to have initiated arbitrary proceedings and the interim attachment order was passed on 23.04.2018 by the Arb