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TMI Blog2022 (3) TMI 1599X X X X Extracts X X X X X X X X Extracts X X X X ..... ed since the sale was a public sale through a public auction. In any event, that is a matter which does not concern the petitioner, and the borrowers have already challenged and lost the said challenge. Moreover, we are informed that the sale has already been confirmed. This petition is nothing but a motivated exercise undertaken by the petitioner at the behest of the borrowers after they have failed to obstruct the sale of the property. It appears that the petitioner has now been set up by them - Petition dismissed. - HON'BLE THE ACTING CHIEF JUSTICE AND HON'BLE MR. JUSTICE NAVIN CHAWLA For the Petitioner : Mr. M. S. Khan and Ms. Affifa Atiq, Advocates. For the Respondent : Mr. Ravi Prakash, CGSC with Ms.Shruti Shivkumar, Advocat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... India Infoline Finance Limited (IIFL) to M/s AVJ Developers (India) Private Limited and M/s Best View Properties Limited. 3. We may notice that these borrowers have not been made parties in these proceedings. 4. Though a perusal of the prayers made in the writ petition gives the impression that the petitioner, in public interest, is challenging the manner in which the loans were disbursed to the borrowers and seeks investigation of the said transactions, learned counsel for the petitioner while arguing the present petition, has advanced his submissions questioning the manner in which the mortgaged asset was sold under the SARFAESI Act by the Financial Institution. 5. Mr. Chadha who appears for the Financial Institution, has drawn our attent ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d amount by publicly auctioning the asset of the borrowers which was mortgaged to secure the loan. 9. After advancement of his submissions, the petitioner sought leave to withdraw the writ petition, but we have not acceded to this request since we find that this petition is wholly motivated. 10. We, therefore, dismiss this petition with costs quantified at Rs. 1 Lakh to be deposited by the petitioner within 2 weeks with the Delhi State Legal Services Authority. 11. We may notice that the petitioner has preferred another writ petition being W.P.(C) No. 1793/2020 which is also listed today. The petitioner shall ensure that the receipt of deposit of costs is placed on the record of the said writ petition before the next date. - - TaxTMI - ..... X X X X Extracts X X X X X X X X Extracts X X X X
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