CANARA BANK Vs. REMEDIANA DCOSTA

JUDGEMENT

(1.) This Contempt Petition is filed with a prayer to punish the Respondents for non-compliance of the order dated 26 October 2016 passed by this Court in Writ Petition No.1027 of 2016 and also for breach of undertaking dated 27 October 2016.

(2.) The Petitioner is a Nationalized Bank. The Respondents availed of a loan from the Petitioner-Bank of around Rs. 700 lakhs. The Respondents mortgaged their property as a security towards the loan. Since the loan was not repaid, the Petitioner-Bank proceeded to attach the property and put up the same for sale. The Petitioner-Bank issued a notice on 30 September 2016 of e-auction. The liability of the Respondents on that date, was Rs. 84,31,657. The Petitioner had valued the property at Rs. 1,01,50,000. The last date of submitting the tender documents was 28 October 2016 and the e-auction was scheduled on 31 October 2016.

(3.) The Respondents filed Writ Petition No.1027 of 2016 on 24 October 2016, seeking to cancel the e-auction and for an interim prayer to postpone the e-auction. This Petition came up on board on 26 October 2016 and the Division Bench, after hearing the Petitioner, passed the following order :