N.SURESH Vs. INDIAN BANK

JUDGEMENT

(1.) The Petitioner has filed the present Writ Petition praying for issuance of a Writ of Certiorarified Mandamus calling for the records of the Respondent/Bank relating to the impugned communication dated 11.02.2013 and to quash the same. Further, the Petitioner has also sought for refund of Rs.4.70 Lakhs together with interest at 18% per annum by the Respondent/Bank to him.

(2.) According to the Learned Counsel for the Petitioner, the Respondent/Bank brought out an advertisement in leading dailies inviting sealed tenders from the prospective purchasers to purchase the vacant property of an extent of Rs.1330 Sq. ft. belonging to one R.Devendran in Survey No.27/1 and 32/1 in Pozhichalur Village, Saidapet Taluk, Chennai MGR District. Also that the Respondent/Bank purported to have taken possession on 21.06.2012 under Section 13(4) of the Securitisation and Reconstruction of Financial Assistance and Enforcement of Security Interest Act, 2002, in order to recover a sum of Rs.11,36,088/-.

(3.) Moreover, the claim of the Respondent/Bank is that the property has been mortgaged in its favour by the borrower [D.Raghuraman] who availed the credit facilities. The last date for submission of tender was fixed as 20.11.2012 till 5.00 p.m. The date and time of opening the tender was fixed as 21.11.2012 at 10.30 a.m.