Sowati Gupta and Anr. v. Recovery Officer-Ii, Debts Recovery Tribunal-Ii, Delhi and Ors. & Anr.
Case brief
What is this about?
Delhi High Court writ petition W.P.(C) 9756/2026; Recovery Officer-II Debts Recovery Tribunal-II Delhi; auction of secured asset under recovery certificate in favour of UCO Bank; successful bidder H1; bid amount Rs.1,83,00,000; immediate 25% deposit Rs.45,75,000; application for extension of time to deposit remaining 75% rejected on 04.07.2026; delay due to petitioner's severe anxiety and emotional/mental distress; lip-sympathy versus technical view; justice oriented approach; no fresh auction notified, no third party rights created; demand drafts dated 30.07.2026 of Rs.1,37,25,000 and Rs.1,38,100 towards one per cent poundage fees; tender within seven days; auction to be finalised in purchasers' name; petition allowed; pending CM applications disposed of; bench Dinesh Mehta and Rajneesh Kumar Gupta JJ.
What did the court decide?
Petitioners permitted to complete the purchase: directed to tender two Demand Drafts (Rs. 1,37,25,000/- towards 75 per cent of the remaining bid amount and Rs. 1,38,100/- towards one per cent poundage fees) before the Recovery Officer within seven days; Recovery Officer to take them on record, finalise the auction in the petitioners' name and proceed thereafter in accordance with law; pending applications disposed of.