grant of any interim restraint or order at this belated stage would severely prejudice Respondent No. 2, who has acquired the interest in property for valuable consideration pursuant to a public auction process conducted in strict compliance with all statutory requirements under the SARFAESI Act and the Security Interest (Enforcement) Rules, 2002. Respondent No. 2, having acted bona fide and having complied with every applicable legal and procedural formality, is now vested with interest in the property by virtue of sale intimation letter. Any interim order would result in grave and irreparable loss, injury, and hardship to Respondent No. 2.Moreover, it is pertinent to note that the applicant's prayer for interim relief has been made after undue, inordinate, and unjustifiable delay, and is clearly an afterthought designed to protract proceedings and unsettle settled rights and interests. The proceedings leading to the auction sale, was concluded well before the filing of this application. Any interim order granted at this advanced and belated stage would cause severe injustice to Respondent No. 2 by defeating the very purpose of the auction mechanism sanctioned by law.
