SUBRATA MAJUMDER Vs. UNITED COMMERCIAL BANK

JUDGEMENT

(1.) The Petitioner in this Article 226 petition dated May 20, 2010 is seeking the following principal relief:

(2.) The Petitioner's father-in-law borrowed money from the Bank. Since he was in default on the loan the Bank proceeded under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and took steps for auction sale.

(3.) The Petitioner participated and was the highest bidder. After depositing a part of the sale price he did not pay the balance thereof. Under the circumstances, according to terms of the sale, the Bank forfeited the deposited amount, issued notice for a fresh auction sale and sold the property to another person.