SANTHOSH KUMAR B S Vs. UCO BANK

JUDGEMENT

(1.) This petition seeking mandamus to the respondent to refund a sum of Rs.24,00,000.00 forfeited vide Annexure-E dtd. 14/10/2020.

(2.) Brief facts: The respondent-Bank conducted e-auction for sale of immovable property bearing No.34, New PID No.012- W0934-22 situated at Shettyahalli Village, Yashwanthpura Hobli, Bangalore North Taluk, Bengaluru. The auction was conducted on 8/9/2020. The petitioner participated in e-auction and was successful bidder purchasing the subject property for a sum of Rs.55,75,000.00. The petitioner deposited 25% of the bid amount Rs.14,00,000.00 including the earnest money of Rs.5,50,000.00 within the stipulated time. The balance amount of Rs.41,75,000.00 was to be deposited within fifteen days from the date of e-auction, which is 22/9/2020. The petitioner has paid further sum of Rs.10,00,000.00 from 19/10/2020 to 27/10/2020. The respondent issued sale intimation letter dtd. 8/9/2020. By letter dtd. 9/9/2020, the respondent intimated the petitioner to pay balance amount of Rs.41,75,000.00 within fifteen days from 22/9/2020.

(3.) It is the case of the petitioner that after the payment of 25%, the respondent was requested to provide copies of the documents relating to the subject property, which was not furnished. The property was notified for auction sale as A khata property whereas it was B khata property, no clarification though requested was provided by the respondent - Bank. Due to fraud committed by the Bank Officials in sanctioning loan against subject property, CBI is investigating and the subject property is subject matter of CBI investigation, which has been suppressed by the Bank. No clarification issued by the Bank even after several requests.