ANIL KUMAR JAISWAL Vs. UNION BANK OF INDIA

JUDGEMENT

(1.) Heard Sri Rahul Agarwal, learned counsel appearing along with learned counsel, Sri Vipul Pandey, in support of this petition and Sri Anil Kumar Bajpai, learned counsel appearing on behalf of the respondentBank.

(2.) This is a writ petition under Article 226 of the Constitution of India, wherein the petitioner is aggrieved by the inaction on the part of the respondent authority(ies), in refunding the 25% of amount i.e. to the tune of Rs.17.49 Lacs, deposited by the petitioner pursuant to the eauction dtd. 29/12/2023, stated to be forfeited by the respondentBank in exercise of Rule 9(5) of the Security Interest (Enforcement) Rules, 2002 (hereinafter referred to as "2002 Rules").

(3.) The case of the petitioner is that after the petitioner failed to deposit the balance 75% within the time prescribed, the earnest money was forfeited. However, the petitioner submits that the bank subsequently itself withdrew the entire previous SARFAESI action against the mortgaged property by a letter dated November 18, 2024, with liberty to take a fresh SARFAESI action, which was once again taken on November 18, 2024.