Ajay Rastogi, J. - (1.) THE auction purchaser has approached this Court assailing the cancellation of the auction proceedings vide order dt. 26.5.2007 by the respondent Bank. The respondent No. 4 was the principal borrower and when he committed default and failed to repay the outstanding dues of the secured creditor, the property which was mortaged and security interest was created it was half of 12 Bigha 5 Biswa of Khata No. 165 Kita 18, was put to auction by the respondent Bank on 9.3.2007. The present petitioner was the auction bidder who participated and deposited the auction bid amount for a total sum of Rs. 4.62 lacs while DLC rate, where the subject land was is situated, at the relevant point of time, was almost Rs. 4 Lacs per Bigha and before the secured creditor would have initiated further action regarding confirmation of auction sale, the principal borrower raised objection on 5.4.2007 regarding under valuation and admittedly deposited the whole of the outstanding dues alongwith interest and other expenses which the secured creditor incurred in terms of Clause 3 of the auction notice and taking note thereof, the auction proceedings were cancelled by the secured creditor vide order dt. 26.5.2007.
(2.) IT has also been brought to the notice of the Court that during pendency of the writ petitioner, after the release of property pursuant to the order impugned dt. 26.5.2007, it has been further sold by the principal borrower by registered sale deed in favour of one Smt. Vimla Devi on 24.5.2007 and she too has been impleaded as party respondent on an application filed by the petitioner but no necessary amendments have been sought and there is no relief claimed against the added respondent in the present writ petition. Counsel for petitioner submits that as per R. 94(13)(i)(b)(ii) of the Rajasthan Cooperative Societies Rules, 2003, if the principal borrower deposits the outstanding dues and makes application within thirty days from the date of sale, the Recovery Officer shall pass an order setting aside the sale and shall repay to the purchaser, the auction money so with 5%, to be deposited by the applicant. However, in the instant case, the principal borrower admittedly cleared his outstanding dues on 24.5.2007 which is after the expiry of 30 days from the date of auction which took place on 9.3.2007 and that being so, the very decision of the recovery officer in cancelling the auction proceedings pursuant to the order impugned dt. 26.5.2007 is not legally sustainable and requires to be interfered with by this Court.
(3.) IT is admitted case that before there could be any confirmation of the auction bid, the principal borrower deposited the outstanding dues alongwith all other ancillary charges he was supposed to deposit in term of Clause 3 of the auction notice pursuant to which auction was held on 9.3.2007.;