LAWS(SC)-2024-2-1

AUTHORISED OFFICER, CENTRAL BANK OF INDIA Vs. SHANMUGAVELU

Decided On February 02, 2024
Authorised Officer, Central Bank Of India Appellant
V/S
SHANMUGAVELU Respondents

JUDGEMENT

(1.) Since the issues raised in both the captioned appeals are the same, the parties are also the same and the challenge is also to the self-same judgment and order passed by the High Court, those were taken up for hearing analogously and are being disposed of by this common judgment and order.

(2.) For the sake of convenience, the appellant shall hereinafter be referred to as the Bank being the Secured Creditor, and the respondent shall hereinafter be referred to as the original Auction-Purchaser.

(3.) These appeals are at the instance of a Nationalized Bank and are directed against the common judgment and order dtd. 27/10/2021 passed by the High Court of judicature at Madras in C.R.P No(s). 1892 & 2282 respectively of 2021 ("Impugned Order") by which the High Court allowed the respondent's writ petition and held that the forfeiture of the earnest money deposit by the appellant bank could only be to the extent of the loss suffered by it.