J.SEKAR Vs. INDIAN OVERSEAS BANK

JUDGEMENT

(1.) The auction purchaser in the proceedings conducted under the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (in short, "the SARFAESI Act") has laid this suit after the confirmation of the sale challenging the sale deed executed by the borrower during the subsistence of the mortgage in favour of the third defendant and also for declaring the sale deeds as null and void, which were subsequently executed by the third defendant, through the fourth defendant, who is his Power of Attorney, in favour of the fifth and sixth defendants.

(2.) In addition to the above prayer, the plaintiff had also asked for damages for use and occupation by the fifth and sixth defendants. However, the relief against the first defendant to pay interest at the commercial rate of interest towards the sale consideration held by them from the date of sale certificate till the date of giving vacant possession to the plaintiff was given up by the plaintiff.

(3.) The case of the plaintiff is as follows :