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2023 DIGILAW 104 (ORI)

Kanchanbala Sahoo v. Canara Bank, Cuttack

2023-01-19

JASWANT SINGH, M.S.SAHOO

body2023
JUDGMENT 1.The guarantor of a term loan availed by her son has inter alia laid challenge to the sale notice dated 28th September, 2022, whereby the auction of the mortgaged property owned by the petitioner was fixed for 31st October, 2022. Learned counsel for the Bank appearing on advance notice submits that the auction has been successfully conducted for highest bid of Rs.62,60,000/-towards recovery of the outstanding liability of a sum of around of Rs.28,00,000/-. It is further stated that the auction purchaser, however has not deposited the further 15% of the price, after confirmation of the bid towards, the total 25% of the bid money. 2. Upon willingness of the petitioner, to clear her outstanding liabilities, this Court on 02.11.2022 passed the following order. '1. The guarantor of a term loan availed by her son has inter alia laid challenge to the sale notice dated 28th September, 2022, whereby the auction of the mortgaged property owned by the petitioner was fixed for 31st October, 2022. Learned counsel for the Bank appearing on advance notice submits that the auction has been successfully conducted for highest bid of Rs.62,60,000/- towards recovery of the outstanding liability of a sum of around of Rs.28,00,000/-. It is further stated that the auction purchaser, however has not deposited the further 15% of the price, after confirmation of the bid towards the total 25% of the bid money. 2. In view of the above, learned counsel for the petitioner to save her mortgaged residential property has offered to pay more than 50% of the outstanding amount as upfront and to pay the remaining balance of the outstanding liabilities within next three months. 3. Issue notice for 19th January, 2023. 4. Mr. B.N. Udgata, learned counsel appears and waives of notice on behalf of the opposite parties-Bank. 5. As an interim measure, subject to the petitioner depositing a sum of Rs.15,00,000/- on or before 10th November, 2022 along with an undertaking to pay the remaining balance within next three months, the sale certificate shall not be issued without the leave of this Court. Urgent certified copy of this order be granted on proper application.' 3. At the time of hearing today, learned counsel for the Bank submits that the required Rs.15,00,000/- were deposited by the petitioner, and the Bank has already cancelled the confirmation of bid submitted by the highest bidder. Urgent certified copy of this order be granted on proper application.' 3. At the time of hearing today, learned counsel for the Bank submits that the required Rs.15,00,000/- were deposited by the petitioner, and the Bank has already cancelled the confirmation of bid submitted by the highest bidder. He further states that the petitioner has not yet filed his undertaking to clear the outstanding liability of more than Rs.14 lakhs. 4. In response, learned counsel for the petitioner prays for grant of some time to clear the entire outstanding liabilities, to which the counsel for the Bank has no objection. 5. In view of the above, the Writ Petition is disposed of with a direction to the petitioner to deposit the remaining balance, to be intimated by the Bank within 10 days from today, in equated installments within next two months but not latter than 28.03.2023.