SAMIR NARAIN BHOJWANI Vs. UNION BANK OF INDIA

JUDGEMENT

(1.) Rule. Rule made returnable forthwith. Mr. Fadia waives service of notice for the Respondents. By consent of parties, Petition is taken up for final hearing.

(2.) By this Writ Petition, the Petitioner has challenged the order dated 04.10.2016 passed by the Debts Recovery Appellate Tribunal, Mumbai, (hereinafter referred to as the "Appellate Tribunal'') whereby the Appellate Tribunal has dismissed the Appeal of the Petitioner and confirmed the order of the Debts Recovery Tribunal No.1, Mumbai, (hereinafter referred to as "D.R.T."), as a result of which the direction of the D.R.T. forfeiting the Earnest Money Deposit (EMD) amount deposited by the Petitioner has been upheld.

(3.) On 06.05.2013, a public notice was issued by the Recovery Officer of the D.R.T. for sale of plot of land bearing C.S. No.1053 at Bandra, by way of E-auction. This public notice stated that EMD amount would have to be deposited for the bids to be considered and further that the balance 25% amount of the purchase price minus EMD amount shall have to be deposited as soon as the auction is knocked down. This public notice also clearly stated that the sale of the said property was strictly on "as is, where is and what is basis".