ASG BUSINESS (INDIA) PRIVATE LIMITED Vs. CENTRAL BANK OF INDIA

JUDGEMENT

(1.) The petitioner is a Company which had got amalgamated with M/s. Kiosk Vincorm Private Limited.

(2.) M/s. Kiosk Vincorm Private Limited purchased certain property under the Sale Certificate dt. 7/2/2014 issued by Respondent No.3 in a sale conducted by respondent no.1 Bank under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 for Rs.27,50,000.00. The Sale Certificate mentions that the property sold to it free from all encumbrances and physical possession of the property was also handed over to the petitioner.

(3.) Despite the issuance of the Sale Certificate, the Respondents refused to register the same as per the law and so it filed W.P. (C) No.812 of 2018 before this Court impleading the vendor 1st Respondent Bank.