- (1.) We have heard learned counsel for the petitioner, learned Standing Counsel for respondent nos. 1 and 2, Shri Ateeq Ahmad Khan for respondent no.4 U.P. Financial Corporation and Shri J.P. Singh for respondent nos. 3 and 5.
(2.) By this writ petition the petitioner has prayed for quashing the order dated 3.6.2005 passed by the Sub Divisional Magistrate, Dadri-respondent no.1 and the notice dated 4.6.2005 issued by the Sub Divisional Magistrate for re-auction of the property. He has further prayed for direction in the nature of mandamus directing the respondent nos. 1 and 2 to complete all the formalities to transfer the title of the property situated A-110, Sector-10, Noida, District Gautam Budh Nagar in favour of the petitioner and deliver the possession of the same to him.
(3.) Brief facts giving rise to the present writ petition are that M/s Channa Enterprises-respondent no.3 had taken a loan of Rs.6,59,700/- from U.P. Financial Corporation (in short the UPFC) for construction of factory in the year 1980 and mortgaged the land and building, total plot area 360 sq. mtrs. The respondent no.3 defaulted in repayment of the loan amount. The UPFC issued a recovery certificate of Rs.28,50,111/- against M/s Channa Enterprises and on 27.1.2003 a citation notice was also issued. Thereafter, the property of the respondent no.3 was attached on 12.4.2004. On 15.6.2004 an auction notice was issued fixing 30.7.2004 as the date of auction but as the sufficient numbers of bidders did not turn up, therefore, the auction could not be held. The Sub Divisional Magistrate-respondent no.1 directed the UPFC to get the auction notice published in newspapers and the same was published. The auction of the mortgaged property was held on 05.10.2004, in which four bidders including the petitioner participated. The petitioner was declared as the highest bidder with offer of Rs.35,00,000/- and his bid was accepted. The petitioner deposited Rs.8,75,000/- as one-fourth of the bid amount and the rest amount of Rs.26,25,000/- was deposited on 19.10.2004. The Sub Divisional Magistrate, Dadri sent a letter dated 11.10.2004 to Vimal Kumar Channa and Ketki K. Channa informing that the auction was done for Rs.35,00,000/- and if they have any purchaser for more than Rs.35,00,000/-, an application should be filed before him.;