RAKHI Vs. PUNJAB NATIONAL BANK

JUDGEMENT

(1.) Respondent no. 3 executed a registered agreement to sell in favour of petitioner in respect of an immovable property on 8/9/2017, however before that, respondent no. 3 had mortgaged the said property in favour of Punjab National Bank for obtaining a loan. Due to default by respondent no. 3 in repayment of loan, the lending bank has invoked its power under SARFAESI Act, 2002 in respect of the said property by taking its symbolic possession.

(2.) In this writ petition, petitioner has sought following reliefs:-

(3.) Learned Senior Advocate for respondent nos. 1 and 2 submits that the secured asset has been auctioned for a sum of Rs.58.07 Lakhs.