SATYABRATA SAHOO Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) Petitioner along with his wife had raised a Housing Loan for a sum of Rs.29,00,000.00 for purchasing a flat from State Bank of India, RACPC Branch, Bhubaneswar on 5/10/2015. Due to financial indiscipline, the loan account was classified as NPA on 17/12/2017 leading to issuance of a Demand Notice dtd. 18/4/2019 under Sec. 13(2) of the SARFAESI Act, 2002 (for short, the Act, 2002") recalling the outstanding liabilities of Rs.29,97,078.00 due as on 15/4/2019 along with interest and incidental expenses etc.

(2.) By filing the present Writ Petition, challenge has been laid to the e-auction Sale Notice dtd. 17/10/2022 fixing the auction sale of the mortgaged property/collateral security on 18/11/2022.

(3.) At the outset, Mr. Sarangi, learned counsel appearing for the Bank states that the mortgaged property was auctioned in favour of the successful bidder, namely, Alok Nath Satrusalya, resident of Balugaon for a sum of Rs.45,76,000.00. He states that the said successful bidder has already deposited 25% of the total sale price. He thus submits that proper remedy for the petitioner is to approach the DRT under Sec. 17 of the Act, 2002 and undertakes to furnish the correct details of the successful auction purchaser to the learned counsel for the petitioner Mr. Sahu during next two working days by either e-Mail/Fax Message or Whatsapp.