BABANNA NAIK, S/O. LATE VITTU NAIK, SUDAKAR NAIK, SURESH NAIK AND SADANANDA NAIK ALL ARE S/O. KALU NAIK Vs. THE DIRECTOR THE PRIMARY CO-OPERATIVE AGRICULTURAL AND RURAL DEVELOPMENT BANK, THE ASSISTANT COMMISSIONER AND RECOVERY OFFICER, CO-OPERAT

JUDGEMENT

(1.) AN extent of 2 acres 80 cents of land in Sy 153/2 of Hirebettu village, Udupi taluk and district had been granted in favour of one Vittu Naik under grant order No. DR 561/1969 dated 22 -7 -1969. It appears, the grantee had mortgaged this land in favour of first Respondent -bank as per mortgage transaction dated 24 -4 -1998, but nevertheless retained possession of the land. The borrower having defaulted in repayment of loan, the bank, it appears, had taken steps to raise a dispute for recovery of loan amount and the matter went before arbitrator resulted in an award in favour of the bank and in execution of the award, the subject land had been sold through revenue authorities for a sum of Rs. 5,08,500/ - as per auction sale dated 29 -9 -2005.

(2.) THEREAFTER , the assistant registrar of cooperative societies has passed the impugned order dated 21 -7 -2010 [copy at Annexure -E to the writ petition], purporting to exercise his power under Section 71 of the Karnataka Cooperative Societies Act, 1959 [for short, KCS Act] affirming the auction sale.

(3.) NOTICES had been issued to the Respondents. Though served, first Respondent -bank remained unrepresented. Respondents 2 and 3 are represented by Sri R Omkumar, learned AGA and Sri K A Ariga, learned Counsel, appears for fourth Respondent -auction purchaser.