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Judgment
This matter is taken up by virtual/physical mode.
Learned counsel for the Petitioners is heard.
The borrower is before this Court with the mercy plea for saving his sole residential property fixed for auction sale on 15.11.2021 for an outstanding liability of ₹11,61,931 as on 12.10.2021, the Petitioners are stated to be ready and willing to liquidate the account by depositing the entire amount provided some reasonable time is granted.
Issue notice for 10.12.2021.
In case, the Petitioners deposit a sum of ₹3 lakhs on or before 15.11.2021, to be kept in no lien account, successful bid, if any shall not be confirmed without leave of this Court.
It is clarified that if the amount is not deposited, there shall be no legal impediment for the Bank to proceed in accordance with law.
List on 10.12.2021.
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