STATE BANK OF PATIALA Vs. LAXMI NARAIN SHARMA

JUDGEMENT

(1.) ALL these appeals have been directed against a common judgment and order dated 17th November, 2011 passed by the Presiding Officer of DRT -I, Chandigarh whereby the aforesaid S. As. have been disposed of with the direction to the appellant Bank to pay Rs. 12,000/ - towards Court fee and Rs. 11,000/ - towards Counsel fee as cost to the applicant of each of the S.As. Since the facts and circumstances of these appeal and the issue involved are common, therefore, these appeals are being disposed of by a common order.

(2.) BRIEFLY stated, the facts of the case are that the appellant Bank had sanctioned certain credit facilities to High Volt Magnet Wires Pvt. Ltd. on execution of loan documents and mortgage of property bearing Plot No. 36 (Municipal No. 487/4) Khasra No. 441/267, measuring 358 sq. yds. Dilshad Garden, Shahdara, Delhi. Since the borrowers failed to maintain financial discipline and defaulted in the repayment of the loan, the appellant -Bank took measures under the SARF AESI Act and after issuing public notice for auction sale, took physical possession of Plot Nos. 36/2 and 36/3 of the aforesaid property. The actions of the appellant -Bank qua the sale of property bearing Nos. 36/1 and 36/4 were challenged before DRT -I, Chandigarh in the applications (S.A. Nos. 26/2005, 27/2005, 64/2005, 65/2005, 66/2005 and 67/2005) filed under Section 17(1) of the SARFAESI Act, whereas, the Oriental Bank of Commerce filed S.A. (No. 72/2005 - - Oriental Bank of Commerce v. State Bank of Patiala) before DRT -III, Delhi qua the sale of the property Nos. 36/2 and 36/3, wherein though the auction process was allowed to continue but the confirmation of the sale was put on hold.

(3.) FEELING aggrieved with that order of the DRT -III Delhi, the auction purchaser preferred an Appeal (No. 222/2008) before this Tribunal, but it was dismissed on 18th January, 2010 on the ground that the mortgagor had a right to redeem the mortgage before the confirmation of sale.