O.P.JAIN, J. - (1.) Petitioner Ram Bharosey Lal who is a retired Officer of Indian Army took a loan of Rs. 75611-40 P. from the respondent Corporation for setting up a .Dairy industry. For some reasons the venture was not successful and the petitioner was unable to repay the instalments to U.P. Financial Corporation (hereinafter called the Corporation). After some correspondence between the petitioner and the Corporation a notice - Annexure '7' under S. 29 of State Financial Corporation Act was served on the petitioner. When the loan was not repaid in spite of notice, the Corporation published an advertisement in a daily newspaper 'Amar Ujala' dated 14-9-1997. By this advertisement intending purchasers were invited to give their offers for the purchase of the property mentioned in the advertisement. It may be mentioned that the property was mortgaged by the petitioner with the Corporation at the time when the loan was sanctioned. The property belonging to the petitioner was sold by the Corporation to respondent No. 3 M/ s. Shakti Agency for a sum of Rs. 1,10,000.00.
(2.) The present writ petition has been filed with a prayer that the sale deed dated 26-2-1988 executed by the Corporation in favourof respondent No. 3 may be called from the office of the Sub-Registrar, Badaun and may be quashed. The petitioner has also prayed that notice Annexure '7' dated 20-10-1987 may also be quashed and respondents may be directed not to interfere with the possession of the petitioner.
(3.) The grounds on which the sale proceedings have been challenged are that no public auction was held, that no valuation was got done, that no effort was made by the Corporation to make the Dairy Unit of the petitioner viable and that no information was given to the petitioner that the highest bid of Rs. 1,10,000.00 is going to be accepted and in this way the petitioner was deprived of an opportunity to produce some persons who, may have given a higher bid.;