9911796707
TMI Blog2021 (1) TMI 1308X X X X Extracts X X X X X X X X Extracts X X X X ..... r Order, dated 11.9.2020 recording that possession was handed over to the Auction Purchaser in pursuance to a Letter, dated 6.11.2019 but the backside portion was being used to store goods of the original Owners preventing full enjoyment of the property - It is also noticed that in case the Auction Purchaser was to continue to enjoy the property and the Petitioner(s) defaulted, one week's time would be granted to remove what has been stored in the back portion. Thus, the Bank will ensure that those Goods are removed within one week from today to facilitate unhindered enjoyment of the possession by the Auction Purchaser. Learned Counsel for the Bank agreed that the Sale Certificate has to be further validated and assured that the need ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... New Door No. 2, Rajarathinam Street, Kilpauk, Chennai-600 010 as security to the Bank. 2. The Appellant, aggrieved by this Order, filed S.A. No. 139 of 2019 before the Debt Recovery Tribunal-1 (hereafter referred to as DRT ), Chennai in which a status quo Order was Passed, dated 28.5.2019. The continuation of these proceedings on status quo Order resulted in the Canara Bank in approaching Madras High Court by filing W.P. No. 23573 of 2019. 3. The Bank stated that it had already sold the Secured Assets to the Auction Purchaser namely, M/s. Realty Associates. The possession could not be transferred because of the status quo Order. The Auction Purchaser had paid ₹ 5.11 crores as against Auction price of ₹ 20.44 crores. 4. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it was recorded that to say the least it was an unusual Order passed by the High Court taking into consideration the nature of relief prayed for. The submission of the learned Senior Counsel for the Auction Purchaser was also recorded that there was no difficulty in confining the relief to refund of the amount which was alleged to have been forfeited. However, he submitted that the subsequent amount deposited (with Interest) as well as the Earnest Money should be returned to him in which eventuality the Auction Purchaser would not claim any interest in the properties. Since the Bank had already appropriated the amounts, they did not have much to say. The Borrower and the Guarantor, being husband and wife, sought time to obtain instructions ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... neither sub-serve the purpose nor is it in compliance with our Orders and for that matter the peremptory nature of the last Order would come into play. 10. We, however, have heard learned Counsel for the Appellant, who eloquently endeavoured to persuade us to give further extension of time. We are not persuaded in view of the Orders passed from time to time, more so, in view of what we have recorded in the last Order. The natural consequence would be dismissal of the Special Leave Petitions. 11. We have, however, also considered the further directions sought by the Auction Purchaser-M/s. Realty Associates that the Sale Certificate be forwarded to them duly validated so that their title is perfected having paid the full amount. 12. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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