K. UMAYAR THANGAM Vs. INDIABULLS HOUSING FINANCE LTD.

JUDGEMENT

(1.) Petitioner/auction purchaser, has contended that when India Bulls Housing Finance Ltd., Chennai, first respondent, brought the subject property for auction, on 30/9/2015, he was declared as highest bidder in the auction, for a bid amount Rs. 1,25,50,000/-. Auction was confirmed, on 31/10/2015. He paid a sum of Rs. 31,37,500/- towards 25% of the sale price towards EMD. Due to ill health, he could not pay the balance amount and sought for extension of time upto 25/3/2006. Bank did not agree and brought the subject property once again, for auction, by issuing e-auction notice, dated undated fixing the auction, on 30/7/2016. Reserve price for the auction has been fixed at Rs. 1,25,00,000/-.

(2.) On the above facts, the petitioner has prayed for a writ of certiorarified mandamus, to quash the e-auction, issued by the first respondent, undated vide Online Auction, https://eauction.npasource.com and consequently, direct the first respondent to allot the property viz., bearing Plot No.23 to an extent of 3 grounds (7200 sq.ft) comprised in New Survey No.160/1A2, 160/2A2 and 166/3A4, as per patta bearing No.3134 situated at Paradise farm Land, Sholinganallur Village, Tambaram Taluk, Kancheepuram District, in favour of the petitioner, as per letter of confirmation, dated 31/10/2015.

(3.) Mr.M.Rajasekhar, learned counsel for the petitioner submitted that when Rs. 31,37,500/-, representing 25% of the sale amount, including EMD has already been paid, Bank ought not to have reissued e-auction sale notice, without considering the representation of the writ petitioner, seeking for extension of time, for payment of balance amount.