SANTOSH HERB CENTRE Vs. PUNJAB NATIONAL BANK

JUDGEMENT

(1.) Suit filed by respondent No. 1 Punjab National Bank against respondent Nos. 2 to 5 was decreed for recovery of money by sale of mortgaged property. In execution proceedings mortgaged property was put to auction on 11.1.1999. Petitioner herein is the auction purchaser being highest bidder for Rs. 5,65,000/-. Petitioner's bid was accepted. The petitioner deposited Rs. 1,41,250/- as 25% of the bid amount on 12.1.1999. The petitioner then moved application on 27.2.1999 for confirmation of the sale. On the other hand, respondent No. 6 M/s Clear Ion Experts Private Limited (a third party) filed objections alleging that it had offered Rs. 9,50,000/- but its offer was ignored.

(2.) Learned executing court i.e. learned Civil Judge (Senior Division), Faridabad vide impugned order dated 15.2.2001, Annexure P/3, dismissed the objections filed by respondent No. 6 but the executing court also set aside the auction sale of the property in favour of the petitioner. The petitioner was allowed to receive refund of his amount. Petitioner's application for confirmation of sale was dismissed. Appeal preferred by the petitioner has also been dismissed by learned Additional District Judge (Adhoc) Faridabad vide impugned judgment dated 10.12.2005, Annexure P/1. Feeling aggrieved, the petitioner has filed instant revision petition under Article 227 of the Constitution of India challenging order Annexure P/3 of the executing court and judgment Annexure P/1 of the appellate court.

(3.) I have heard learned Counsel for the parties and perused the case file.