VENKATASUBBU Vs. C. RAJENDRAN PRASAD AND ORS.

JUDGEMENT

(1.) This Revision Petition arises out of the Fair and Decretal order dated 01.11.2001 passed in C.R.F.No.16624 of 2001 in A.R.C.No.17/85-86 by the learned Second Additional Subordinate Judge, Coimbatore, the Revision Petitioner herein is the Auction Purchaser.

(2.) The above Civil Revision Petition is filed against the order of the learned II Additional Sub Court, Coimbatore dated 01.11.2001, rejecting the E.P. in S.R. stage filed by this Revision Petitioner for the delivery of the petition mentioned schedule of property. This Revision Petitioner, who is the auction purchaser of the schedule of propertyhas filed the above E.P. as envisaged under Rule 37(15) of the Multi State Cooperative Societies Act, 2002 (hereinafter referred to as the 'Act'). The said Act is a self-contained code as the very preamble of the Act indicates.

(3.) The brief facts leading to the filing of this Civil Revision Petition is that the 1st respondent, who is the Sole Proprietor of the 2nd respondent Firm had availed a loan from the 3rd respondent bank by mortgaging his immovable property (which is the subject matter of this revision petition) by way of security. As the 1st and 2nd respondents were defaulted in repaying the loan amount, the 3rd respondent initiated recovery proceedings vide A.R.C.No.17/85-86 before the Central Registrar of Co-operative Societies, Chennai, which resulted in an award dated 30.11.1985. As the 1st and 2nd respondents failed to comply with the award, the above said mortgaged property was brought for sale and this revision petitioner was the successful bidder for Rs. 7,55,000/- in the auction sale held on 21.04.1988. Later, the petitioner has paid the said bid amount and the last payment of the bid amount was on 05.05.1988 and the 4th respondent proceeded to confirm the sale on 10.06.1988 and directed the petitioner to pay the bank charges of Rs. 98,150/-. Accordingly, the petitioner has paid the same on 17.06.1988.