Sanjay Singh v. Indian Bank and Ors.

Appeal Dy. No. 435/2022 Date: 07.12.2022

Sanjay Singh Vs. Indian Bank & Ors.

Present: Shri Alok Rai, counsel for the appellant, Shri V. K. Shukla, Advocate holding brief of Shri A. K. Srivastava, counsel for the respondent-Bank, Shri Avinash Jaiswal, counsel for the respondent-Borrower,

Learned counsel for the appellant contends that appellant was highest bidder in the auction conducted by the respondentbank and had deposited 25% of the auction sale price and the sale was confirmed in favour of the appellant on 24.11.2020.

Learned counsel for the respondent-Borrower Shri Avinash Jaiswal submits that consent of the borrower is already there in favour of the appellant.

Learned counsel for the appellant submits that on 08.12.2022 is the date fixed for sale and if the sale takes place, the purpose of filing the present appeal would become infructuous. Therefore, he prays that the Bank may be restrained from conducting the auction sale fixed tomorrow i.e. 08.12.2022.

In view of the submission made by the learned counsel for the appellant, the stay application being I.A. No. 594/2022 is disposed off with the direction that the auction sale scheduled to be held on 08.12.2022 with regard to the property in question may go-on, but the sale shall not be confirmed till next date.

Learned counsels for the respondents may file reply by the next date.