E. ALI Vs. THE SYNDICATE BANK AND ORS.

JUDGEMENT

(1.) The petitioner has called in question the validity of the proceedings at Annexure 'C' dated 6.2.2008 and the interim certificates issued by the authorized officer at Annexures 'D' and 'E' both dated 9.2.2008. The petitioner has also sought for quashing of the order of the authorized Officer at Annexure 'N' forfeiting the amount deposited by him towards purchase of the properties morefully described in the interim certificates at Annexures 'D' and 'E'.

(2.) The authorized officer of the Syndicate Bank, Sadashivanagar Branch issued an advertisement inviting tenders at Annexure 'A' for sale of the movable and immovable properties belonging to M/s Ultradew. The petitioner submitted his offer along with certain other persons. The authorized officer conducted the auction on 5.2.2008. The petitioner was the highest bidder. The sale proceedings were drawn as per Annexure 'B' and the sale was confirmed in favour of the petitioner. The petitioner deposited Rs.45.25 lakhs with the authorized officer, which is 25% of the bid amount. The balance of Rs.1,35,75,000/- was required to be deposited at a later date. An interim sale certificate pertaining to movable property as per Annexure 'E' and immovable assets as per Annexure 'D' was issued in favour of the petitioner.

(3.) The contention of the petitioner is that he visited the premises and found that the property was occupied by some persons. The factory was run by third parties. Thus, the property in question was not vacant.