Applicant sought to set aside auction scheduled on a holiday. Court ruled auction invalid, directed bank to issue notice under Rule 8(6), and disposed of the sale application.
Direct bank to issue notice under Rule 8(6) and conduct fresh auction after 30 days; application disposed.
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Court of the Presiding Officer Debts Recovery Tribunal, Jaipur
Item No. 68
Case No. SA/225/2025
MUKESH KUMAR SEN Vs CAN FIN HOMES LIMITED
Date: 02.04.2025
Proceedings through hybrid mode Present:
Shri Kapil Kumar Kumawat, Counsel for the Applicant
Shri Vikram Singh, Counsel for the Respondent Bank/FI
In this matter, the auction was scheduled on 31.03.2025 which was a holiday. The SA has challenged the same. Though, the Counsel for the applicant submits that he has also challenged the possession, but the same is not within limitation. Though the auction has failed, it will not be treated as auction because it was to be done on holiday.
If the bank wishes to proceed ahead, they will issue first Notice under Rule 8(6) and after expiry of 30 days they will issue fresh auction notice for 30 days, treating it as first auction.
With these directions, this SA stands disposed off. SA applicant is at liberty to approach to the Respondent If the he is desirous of settling the matter with an OTS proposal along with 10% down payment. Respondent FI may consider the same.
Accordingly, SA stands disposed off, all pending IAs also stands disposed off, if any.
File be consigned to record as per rules. Copy of order be uploaded on website.
(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Jaipur
3 issues framed by the court
Whether auction scheduled on a holiday day can be treated as a valid auction.
Whether the applicant is entitled to set aside the auction timing.
What order of procedure should be adopted if the bank wishes to proceed with the auction.
1 provisions across 1 enactments
MUKESH KUMAR SEN
CAN FIN HOMES LIMITED
VIMAL GUPTA
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
