M S Godavari Civil Contracting Company Pvt. Ltd. versus Canara Bank (Syndicate Bank)

. Counsel for the respondent bank files objection and stated that application is highly^{barred by limitation. As regardsthe question of return of} purchase money to the successful^{bidder the applicantof this M.A.,the statute} prescribed noffns and the^{applicant may seek recourse thereof. The respondent} bank had filed an appeal^{on 10.3 .2022 before the Hon'bleDRATAllahabad} which is pending.

¶11

I have heard the counsel^{for the parties and gone through the final order} dt. 3.I.ZOZZ^{passed in S.A. No. 618 of 2018. This Tribunal had set aside the} auction sale and directed^{the bankto return the sale proceedafter receivingthe} original sale certificate.^{The propertywas auctionedon 14.12.2018 and the} applicaht being the^{successful bidder had deposited the entire bid amountof} Rs. 9.46 crores and after^{deposit of entire saleproceed the bank had issued} sale certificate on^{27.12.2018. The applicant had claimed interest by applying} interest @ 12% and^{also demanded amount spent in litigation and} compensation. In^{view of the judgment passedby Hon'ble Punjab & Haryana} High Court the applicant^{being the auction purchaseris entitled to the interest} applicable to the^{FDR, therefore,it is directed that the respondentbank shall} refund the sale^{proceed with interest applicable to the FDR. However,the} claim regarding litigation^{charges and compensation is declined.}

¶12

With the above observation,^{the misc. applicationis disposedof fTStY}

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I

¶14

Let the file be consigned^{to record.}

¶15

6.'rhaii; Presiding Officer

M S Godavari Civil Contracting Company Pvt. Ltd. v. Canara Bank (Syndicate Bank)

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M S Godavari Civil Contracting Company Pvt. Ltd. v. Canara Bank (Syndicate Bank)

Case brief

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