Recovery of Debts Due to Banks & Financial Institutions Act, 1993–Secs. 25 & 30–Auction sale–Confirmed in favour of appellant–Order set aside by High Court on the ground of agreement of sale in favour of J–Justification–Appellant was the higher bidder–Agreement of sale executed in favour of J
was not registered–Further, he filed the objection before the recovery officer and abandoned his claim–He remained a silent spectator to various orders which were passed time to time and thereafter, filed the writ petition after two years–He also not raised any objection in mutation proceedings–Auction purchaser was the bonafide purchaser and purchased the property on much higher than the bid amount–No justification in setting aside the auction sale on the ground of subsequent escalation of price–Held, impugned judgment passed by High Court is liable to be set aside.
