STATE BANK OF INDIA Vs. BALJINDER KAUR

JUDGEMENT

(1.) THE Writ petition No.3368/2012 preferred by Smt. Anita Sadana (auction purchaser) and W.P. No.3676/2012 preferred by State Bank of India are being disposed of by this common order as both the writ petitions have been preferred under Article 227 of the Constitution of India for quashing of the order Annexure P -1 passed by respondent No. -4 Debts Recovery Appellate Tribunal, Allahabad in appeal No. R -54/11 dated 12.03.2012 confirming the order passed by respondent No. -3 Debts Recovery Tribunal, Jabalpur in S.A. No.66 /2010 dated 24.02.2011, allowing the appeal of the respondent Baljinder Kaur.

(2.) FOR the purpose of consideration of the matter the facts stated in W.P. No.3676 are being mentioned.

(3.) ,18,649/ - from the borrower vide notice under Rule 6 and 8 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 (SARFAESI ACT). Earlier a notice dated 29.05.2007 was issued for recovery of Rs. 3,58,967/ - under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002. The amount was not paid by respondent no. -1 in stipulated time, thereafter a notice was served dated 23.08.2007 under Section 13(4) of SARFAESI ACT. The possession of property was taken. The said notice was published in the newspapers on 28.08.2007 under Rule 8(2) of the Security Interest (Enforcement) Rules 2002. Thereafter it was open for the bank to auction the property for recovery of the dues. A sale proclamation under Section 13(4) was published on 11.09.2009 by which it was notified that the property shall be put to auction on 10.10.2009. It is further stated that the property was valued by the qualified valuer of the bank. Valuation report dated 30.08.2007 was submitted vide Annexure P/3. After following the due procedure, the auction of the mortgaged house property took place on 10.10.2009. In the auction three bidders participated. One of them was the petitioner of W.P No.3368/2012, Smt. Anita Sadana. The bid of of Smt. Anita Sardana of Rs.7,70,000/ - was the highest, hence the bid of Anita Sadana was accepted and the sale certificate was accordingly issued. The same was registered in the office of the Sub Registrar Shivpuri on 7.11.2009. The original document of title of the said property was handed over to Smt. Anita Sadana. The amount of auction was received by the bank which was more than the amount of dues payable by the borrower, hence after making recovery of the dues the excess amount of Rs.2,73,369/ - has been returned to the borrower vide bankers cheque no. 349320 dated