This High Court disposed of a civilian writ petition regarding auction property proceeds. Directing the Debt Recovery Tribunal (DRT) to release funds.
DRT directed to release petitioner's auction amount with interest within 15 days.
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S.B. CIVIL WRIT PETITION NO.965/2008
Shanti Lal & Anr. Vs. S.B.B.J. & Ors.
DATE OF ORDER :: 04-04-2008
HON'BLE MR. MUNISHWAR NATH BHANDARI,J.
Mr. A.K. Singh, for the petitioner. Mr. P.K. Lohra, for the respondent-Bank.
Learned counsel for the petitioner submits that initially matter was pertaining to release of the property which was auctioned and petitioner being highest bidder, it should have been given to him after confirming the sale. It is contended that now the matter is being settled between the bank and the original borrower and in view of the settlement, the entire debt has been paid and now the property in dispute cannot be given but petitioner is entitled to receive the entire payments so made pursuant to the auction of the property which otherwise is lying with the DRT.
Learned counsel for the bank submits that so far as the bank is concerned, since amount is not lying with them, a direction for release of payment can be issued on DRT.
In view of the above, DRT is directed to release the amount of the petitioner along with
interest, if any earned while the money remained with the DRT within a period of 15 days from the date of receipt of copy of this order.
With the above direction, writ petition is disposed of.
[Munishwar Nath Bhandari],J.
Praveen
Shanti Lal & Anr.
S.B.B.J. & Ors.
Munishwar Nath Bhandari
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
