Security Interest(Enforcement) Rules, 2002, todeposit75olo bid amount on or before 29.08.2025.The sale confirmation letter dated 18.08.2025 clearly stipulates that failureto deposlt due amount by schedule date, saleshall be cancelled and any amount deposited by the applicantshall be forfeited. Admittedly, applicant has not deposited 75o/o of bid amountby 29.08.2025. Instead, appllcant has written a letteron 06.70.2025, i.e., after explry of 38days ofstipulated limit, seeking refund of amount dePosited by him on theground of subjectproperty beingpart ofprohibitory Iist.Since applicant failed to deposit balance bid amount asstipulated,respondent bankproceeded with forfeiture of25o/o of bid amountvide impugned letter. The SA is filed onreceiptof forfeiture letter issued by the respondent bank. Admittedly, applicantdoes not seem to have taken up the issue of subjectproperty being under theprohiblted property list any timebefore filingthe present SA, except the letter dated 06.10.2025. Therefore, in the absence of any reservatlon as to deposit ofbalancebid amount before expiry of stipulated time, I donot find any reason to hold that the respondent bankhas commlttedany irregularity or illegality in forfeiting theamounts depositedby the applicant as per the terms of the auctionnotice. Accordingly, appllcant has failed tomake outany validground to interfere with the action of respondent bank inthe forfeiture of amounts deposited in terms of theauctionsale proceedings. Hence, the SA is dlYold of any merit and is liable //X'lnt<.\ to be dlsmissed. /,/,/\ --l)^{!! t:
