IDBI LIMITED Vs. PYDI RAMESH NAIDU

JUDGEMENT

(1.) Aggrieved by a decree for refund of the forfeited amount to the auction purchaser, the Bank has come up with the above regular appeal.

(2.) Heard Mr. Chitturu Srinivas, learned counsel for the appellant and Mr. N. Ashwani Kumar, learned counsel for the respondents.

(3.) By an advertisement published in newspapers, in November/December, 2012, the appellant bank invited offers for the purchase of a property that was mortgaged to the bank by a borrower. The respondents submitted their bids along with the Earnest Money Deposit.