AMBALAVANAN Vs. K.KAILASAM

JUDGEMENT

(1.) This review application is filed by the auction purchaser to review the order dated 2 September 2015 in C.R.P.(NPD) No.2210 of 2015, primarily on the ground that while allowing the revision petition filed by the first respondent, direction was not issued to the Bank to refund the sale amount deposited by him along with the stamp duty and registration fee, with interest.

(2.) The first respondent availed financial assistance from the SAF Branch of Canara Bank, Coimbatore. Since the loan amount was not repaid as per schedule, the Bank initiated proceedings under the provisions of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, [hereinafter referred to as 'SARFAESI Act']. The first respondent challenged the measures taken by the Bank before the Debts Recovery Tribunal, Coimbatore. The order passed by the Debts Recovery Tribunal (hereinafter referred to as the Tribunal) was confirmed by the Debts Recovery Appellate Tribunal. The matter was taken up before this Court on multiple occasions by way of civil revision petition and Writ Petition.

(3.) The Debts Recovery Appellate Tribunal [hereinafter referred to as the Appellate Tribunal] in the earlier round of litigation, recorded a finding that the sale was made in violation of the statutory rules.