As we have affirmed the order of the High Court setting aside the sale, we grant two months time to the borrower to discharge the entire liability of the Bank. The borrower shall also reimburse the amount of registration fee and sta..
As we have affirmed the order of the High Court setting aside the sale, we grant two months time to the borrower to discharge the entire liability of the Bank. The borrower shall also reimburse the amount of registration fee and stamp duty to the purchaser. The direction to pay this amount is given having regard to the conduct of the borrower on earlier occasions. If the borrower pays the amount due to the Bank, registration charges, stamp duty as well as amount of encumbrances paid by the purchaser, which was the liability of the borrower i.e. a sum of Rs.49,91,000/- + 2,86,078/-, the property shall revert back to the borrower. If the aforesaid amounts are not paid within the aforesaid two months, the Bank shall be at liberty to proceed with the sale of the property following due procedure under the law. In so far as the purchaser is concerned, he
shall be refunded entire amount spent by the purchaser, as mentioned above.We have consciously not granted interest to the purchaser on the aforesaid amount, as 25Page 26 C.A. No.4679/ 2014 @ SLP(C)No. 35168 of 2011 the purchaser has, in the meantime, utilized the property in question. Subject to the above, the appeals are dismissed.
