Smt. A. Chandrakala, v. Bank Of Baroda,

THE HON'BLE THE ACTING CHIEF JUSTICE RAMESH RANGANATHAN AND THE HON'BLE MS. JUSTICE J. UMA DEVI Writ Petition No.25487 of 2017 ORDER: (per Hon'ble the Acting Chief Justice Sri Ramesh Ranganathan) Heard Sri Pujari Nageswara Rao, Learned Counsel for the petitioner and Sri G.Tirupathi Reddy, Learned Standing Counsel for the respondent-Bank and, with their consent, the Writ Petition is disposed of at the stage of admission.

The amount due, as reflected in the sale notice dated 09.07.2017, is in excess of Rs.68.00 Lakhs. The subject property was put to sale, and the highest bid received in the auction was for Rs.1.5 Crores. The petitioner claims that the value of the subject property is in excess of Rs.2.00 Crores. It is, however, not in dispute that the petitioner is due, the amount reflected in the sale notice to the respondent-bank.

It is wholly unnecessary for us to delve on the merits of the rival submissions of Learned Counsel on either side, as an affidavit of undertaking is now filed by the petitioner undertaking to repay the entire dues, as claimed by the respondent-bank, within 30 days from today. While expressing his consent for grant of thirty days to the petitioner to repay the entire dues, Sri G.Tirupathi Reddy, Learned Standing Counsel, requests this Court to safeguard the interests of the respondent-bank on the petitioner's failure to make payment within 30 days.

As the highest bidder in the auction has already paid 25% of the bid amount, we consider it appropriate to dispose of the Writ Petition permitting the petitioner to repay the entire dues on or before 15.09.2017. In case the petitioner pays the entire amount due to the respondent-bank, on or before 15.09.2017, the respondent-bank

shall thereafter consider releasing the documents deposited with them by the petitioner. In case the petitioner fails to pay the entire amount due to the respondent-bank on or before 15.09.2017, it is open to the respondent-bank to proceed and confirm the sale in favour of the highest bidder in the auction and, on receipt of the entire consideration, to execute a sale deed in his favour. The Writ Petition stands disposed of accordingly. The miscellaneous petitions pending, if any, shall also stand disposed of. There shall be no order as to costs.

________________________________ RAMESH RANGANATHAN, ACJ ________________ J. UMA DEVI, J Date:16.08.2017.

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