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2015 DIGILAW 660 (MAD)

Vanaja v. Authorised Officer, State Bank of India, Theni District

2015-02-04

S.TAMILVANAN, SANJAY KISHAN KAUL

body2015
JUDGMENT SANJAY KISHAN KAUL, J. 1. In an auction sale under the Securitization and Reconstruction of Financial Assets and Enforcement of Security and Interest Act, 2002 (for short the Act), the petitioner participated being the daughter-in-law of the defaulting party and she was the highest bidder and deposited Rs. 2,30,000/- (Rupees Two Lakhs and Thirty Thousand only) in the auction that took place on 15.10.2014 and was required to deposit the balance amount within 15 days. The balance has still not been deposited. 2. The issue is contractual in nature. Going by the terms of the bid, it is not possible for this Court to interfere in the same. However, it is open to the respondent authorities, if they so desire, to extend the time period for payment of the balance amount. 3. The present Writ Petition is dismissed with the aforesaid observations. No costs.