VINJAM SRINIVASA RAO Vs. UNION OF INDIA

JUDGEMENT

(1.) The petitioner prays for writ of mandamus declaring the action of respondents 2 and 3 in not returning the sale amount paid by the petitioner pursuant to the e-Auction notice dtd. 28/5/2021 in respect of the residential house in an extent of 319.89 square yards with RCC roof, ground, first and second floors covered by Door No.12-2-5/12, old ward No.4, New Ward No.10, Prakash Nagar, Narasaraopet Municipality (for short, "subject property") as illegal and contrary to the provisions of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, the SARFAESI Act") and consequently direct the respondents 2 and 3 to return the money of Rs.1,25,90,000.00 with interest @ 18% p.a. to the petitioner.

(2.) The petitioner"s case is thus:

(3.) Respondents 2 and 3 filed counters and opposing the writ petition, inter alia contending thus: