SHYAMA DEVI CHOURASIA Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) PETITIONER Judgment debtor in this writ petition has assailed the correctness of the orders (P. 1, P. 2 and P. 3) passed by the Debt Recovery Appellate Tribunal, Recovery Officer and Debt Recovery Tribunal respectively.

(2.) IT is not in dispute that State Bank of India had filed the original application before DRT which was allowed in which the recovery certificate was ordered to be issued on 21. 11. 2000. The said order passed by the DRT adjudicating the original application has attained finality is not in dispute. Subsequently, the auction of property was started.

(3.) RECOVERY certificate was issued for a sum of Rs. 19,48,290. 70 along with interest pendente lite and future rate was specified in the contract as per Bank as 16. 5%. In the execution first sale of the property took place on 28. 7. 2001, as the full amount was not recovered second time auction was made on 22. 10. 01 and third auction was held on 31. 10. 03. Correctness of the Ist land IInd auction has not been assailed in this writ petition. Petitioner in this writ petition has assailed the third auction and the non settlement as per RBI guidelines (P. 22) dated 29. 1. 2003.