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TMI Blog2020 (12) TMI 1287X X X X Extracts X X X X X X X X Extracts X X X X ..... is requested to immediately get in touch with the authority concerned and discuss the matter. It should not happen that the State also fails in enforcing its charge, and at the same time, the Bank would also loose its legitimate dues. In other words, in this imbroglio, the public exchequer should not suffer. In the peculiar fact situation, we are adjourning this matter for tomorrow. The Registry shall prepare a Board and notify this matter for hearing Let this matter come up tomorrow for further hearing as a special case. Post the matter on 12th December, 2020. - R/Special Civil Application No. 15298 of 2020 - - - Dated:- 11-12-2020 - Mr. Justice J.B. Pardiwala And Mr. Justice Ilesh J. Vora, JJ. Mr CZ Sankhla(3243) for the P ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ina, the learned senior counsel assisted by Mr. C.Z. Sankhla, the learned advocate appearing for the writ applicant-Bank. In the course of the discussion of this matter, Mr. K.M. Antani, the learned AGP, also joined us. 4. It appears from the materials on record that the respondent No.3 is the original borrower. The writ applicant-Bank granted credit facilities to the respondent No.3 over a period of time, and one fine day, the account of the borrower was declared or classified as NPA in accordance with the guidelines issued by the RBI. 5. It is pointed out by the learned senior counsel that, as on the date of issue of notice under Section 13(2) of the SARFAESI Act, the amount due and payable to the Bank is approximately ₹ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt. 6. We could have issued notice for further hearing of the matter, but the problem, as pointed out by Mr. Kavina is Sub-Rules 4 and 5 of Rule 9 of the Security Interest Enforcement Rules, 2002. The same reads thus; (4).The balance amount of purchase price payable shall be paid by the purchaser to the authorised officer on or before the fifteenth day of confirmation of sale of the immovable property or such extended period as may be agreed upon in writing between the parties. (5) In default of payment within the period mentioned in subrule (4), the deposit shall be forfeited and the property shall be resold and the defaulting purchaser shall forfeit all claim to the property or to any part of the sum for which it may ..... X X X X Extracts X X X X X X X X Extracts X X X X
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