NDLI: Deenadayal Nagari Sahakari Bank Ltd. & Another Vs. Munjaji and Others

Content Provider	Supreme Court of India
e-ISSN	30484839
Language	English
Access Restriction	NDLI
Subject Keyword	Maharashtra Co-operative Societies Act 1960: s.154
Content Type	Text
Resource Type	Law Judgement
Jurisdiction	India
Case(s) Referred	Referred Case 0 Referred Case 1 Referred Case 2 Referred Case 3
Case Type	Appeal
Court	Supreme Court of India
Disposal Nature	Appeal Allowed
Headnote	Maharashtra Co-operative Societies Act, 1960: s.154 – Auction – Respondent no.1-borrower borrowed loan from two banks and as a security mortgaged four properties – Default in payment – Both the banks initiated separate recovery proceedings – Appellantbank published proclamation in the daily newspaper and thereafter, tendered a notice to sell the mortgaged properties – Appellantauction purchaser was found to be the highest bidder – Sale certificate was issued in favour of the auction purchaser on 17.01.2011 and the sale deed was also executed on 19.01.2011 – No further steps were taken by respondent no.1 immediately – He also did not come forward to deposit 5% of the amount equal to the purchase money within 30 days from the date of the sale so as to seek setting aside of the sale in terms of r.107(13) of the MCS Rules, 1961 – No objection was raised before the Recovery Officer about any irregularity or fraud as required under r.107(14) of the MCS Rules, 1961 – When the officers of the bank went to take possession of the property, they were attacked – FIR reporting attack lodged on 24.02.2011 – Thereafter, respondent no.1 challenged the auction proceedings before the Divisional Joint Registrar by way of revision under s.154 of the MCS Act, 1960, which was dismissed – Order of Divisional Joint Registrar was challenged before High Court, which was allowed and auction was set aside – On appeal, held: Once the revision application before the Divisional Joint Registrar under s.154 was held to be not maintainable, High Court ought not to have considered the writ petition on merits – The borrower never applied to the recovery officer to set aside the sale on the grounds of material irregularity, mistake or fraud in publishing or conducting it, therefore, once the borrower failed to apply to the Recovery Officer to set aside the auction sale within a period of thirty days from the date of sale of immovable property, it was not open for the borrower to challenge the sale on the ground of material irregularity – U/ r.107(14)(i) of the MCS Rules, 1961, no sale shall be set aside unless the Recovery Officer is satisfied that the applicant had sustained substantial injury by reason of such irregularity, mistake or fraud – In the present case, there is no finding recorded by the High Court that the borrower had sustained substantial injury – Setting aside of auction sale by the High Court was just contrary to the proviso to r.107(14)(i) of the MCS Rules, 1961 – Maharashtra Co-operative Societies Rules, 1961 – r.107(11)(f) .
Judge	Hon'ble Mr. Justice M.R. Shah
Neutral Citation	2022 INSC 191
Petitioner	Deenadayal Nagari Sahakari Bank Ltd. & Another
Respondent	Munjaji And Others
SCR	[2022] 8 S.C.R. 948
Judgement Date	2022-02-16
Case Number	818

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Deenadayal Nagari Sahakari Bank Ltd. & Another Vs. Munjaji and Others

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Deenadayal Nagari Sahakari Bank Ltd. & Another Vs. Munjaji and Others

Deenadayal Nagari Sahakari Bank Ltd. & Another Vs. Munjaji and Others

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