VIJAYA BANK Vs. STATE OF GUJARAT

JUDGEMENT

(1.) Present applicant preferred Special Civil Application No.18299 of 2017 before this Court to restrain respondent No.4-original petitioner ("the bank" for short) from taking any recovery action against mortgaged property, wherein, by order dtd. 28/9/2018, the applicant withdrew the application with a liberty to approach the Debt Recovery Tribunal ("the DRT"). The order dtd. 28/9/2018 deserves reproduction as under:-

(2.) The bank has filed Special Criminal Application No. 9594 of 2018, wherein it has sought police protection for taking physical possession of the property that was in occupancy of the applicant. The bank being third party bona fide purchaser, the applicant made submissions before this Court to deposit the amount of Rs.10,00,000.00 ( Rupees Ten Lakhs) with the bank for further negotiation and the same was recorded in the order dtd. 30/11/2018. The applicant deposited Rs.10,00,000.00 (Rupees Ten Lakhs only) bearing Cheque No.0011725 of Saraswat Co-Operative Bank Ltd., Branch Maninagar in favour of Authorised Officer, Vijaya Bank.

(3.) SA No.213 of 2018 was filed by the applicant against the bank in the DRT, which came to be disposed of with the observation that "the applicant shall vacate the premises within 07 days if any other auction purchaser provides a higher bid." This was the order passed on 11/1/2019 by the DRT.