(1.) The background facts The petitioner is an Auction Purchaser in an e-auction held on 25/11/2021 of the subject secured asset which is a double storey residential house measuring 432 sq. yards situated in Gali No.11, Bhagu Road, Bhatinda, offered as a security by its borrower M/s Meridian Milk Products, a partnership firm.
(2.) The petitioner had quoted 67,37,000/- and had remitted 16,09,250/- i.e. 25% of the said amount, and he was to pay the balance of 48,27,750/- by 10/12/2021.
(3.) The Chief Manager of the State Bank of India, SARB, Ludhiana (respondent No.2) replied to the petitioner stating that borrower had filed a Writ Petition against the SBI in this High Court, but there was no stay granted in respect of the subject property.