K. INDRA MOHAN Vs. UNION OF INDIA

JUDGEMENT

(1.) The petitioner seeks setting aside of a letter dtd. 13/6/2023 issued by the respondent No.2/Union Bank of India forfeiting Rs.2,16,25,000.00 deposited by the petitioner towards 25% of the sale consideration pursuant to an e-auction conducted on 14/3/2023. The petitioner seeks a consequential direction on the respondent No.2/Bank to receive the balance 75% of the sale consideration of Rs.6,48,75,000.00 and execute a registered Sale Certificate in favour of the petitioner in respect of the subject property or in the alternative, a direction on the respondent No.2/Bank to refund the amount of Rs.2,16,25,000.00.

(2.) The petitioner before this Court is the Auction Purchaser who was declared the highest bidder (H1 bidder) in the e-auction conducted by the respondent No.2/Bank for a sale price of Rs.8,65,00,000.00.

(3.) The brief facts leading to filing of the present Writ Petition are as follows.