1. In the present matter the Respondent bank moved a review application on 22.06.2022 vide diary No. 1378. Reply to this review application filed today by Ld. Counsel for the applicant. Ld. counsel for the SA applicant submitted that the order dated 02.06.2022 passed by this Tribunal is required to be reviewed because the SA applicant failed to file any application for seeking amendment in the SA in the light of auction notice which was challenged by the applicant through I.A. No. 169/2022. Ld. Counsel further submitted that preliminary objections with regard to none filing of any application for amendment to S.A. was not considered and so, the order dated 02.06.2022 is required to be review. Ld. Counsel further submitted that the auction fetched highest bid amount of Rs. 2998000/- and considering the objections of the DLC rate, the order dated 02.06.2022 is required to be reviewed.

2. Heard arguments and perused the record.

3. The order dated 02.06.2022 passed by this Tribunal is a detailed order and do not requires any modification/review and therefore, the prayer to review the order dated 02.06.2022 is not liable to be accepted and the same is disposed of as dismissed.

Order on I.A. No. 67/2022.

4. This interim application was filed by the Respondent bank with a prayer to dismiss the S.A. on the ground that possession of notice was issued on 26.04.2016 but the SA was not filed within the prescribed period of 45 days and the applicant filed this S.A. when the Respondent bank issued 4th auction.

5. Ld. Counsel for the SA applicant while filing reply to this interim application argued that the symbolic possession of the mortgaged property was taken on 26.04.2016 but the Respondent bank put the said property on auction only four times over the period of more than 5 years and for this delay, the respondent bank itself is responsible.

6. As per facts of the case, it is clear that the S.A. applicant challenged the auction notice which was issued by the respondent bank on 16.04.2022 through which the subject mortgaged property was auctioned on 25.05.2022. From the possession notice itself, it is clear that it was issued by the Respondent bank on 26.04.2016 and in the last five years time the subject mortgaged property was put to auction only on fourth occasion, so this fact is sufficient to prove that how much the respondent bank is serious about the recovery of the outstanding amount in the present case.

7. Considering the fact that delay was caused by the Respondent bank in timely recovery of the outstanding amount, so the prayer to dismiss this S.A. is not liable to be accepted and the I.A. No. 67/2021 stands disposed of as dismissed.

8. Ld. Counsel for the SA applicant moved an I.A. No. 1117/2021 on 07.09.2021 with a prayer to issue directions to the Respondent bank to appoint Local Commissioner in order verify the condition of the property, the possession of the stock available on the property, considering the Panchnama dated 06.12.2016 filed by the Respondent bank at Annexure R/6 showing a total value of items available at the property for an amount of Rs. 57,90000/-.

9. As per the provisions of Rule 8(3) of Rules of 2002, Authorized officer of the Respondent bank who took physical possession of the subject mortgaged property is required to take care of the property and considering the fact that the possession was taken on 06.12.2016 the property was put in auction in the month of May, 2022, so it is necessary that the prayer to appoint the Local Commissioner is to be allowed who shall file a complete detailed report with regard to subject mortgaged property and therefore, Sh. Sarthak Gupta, Advocate is appointed as a Local Commissioner who shall visit to the mortgaged property along with Authorized officer of the Respondent bank and the SA applicant on the date and time fixed by both the parties as per their mutual consent within next 15 days time. An amount of Rs. 20,000/- is fixed as court fees to the Local Commissioner, an amount of Rs. 2500/- for charges against the videography & photography and further an amount of Rs. 4000/- be paid against travelling expenses.

10. A memo of proceedings to be drawn be signed by all the parties and Local Commissioner is directed to file the same on record within next one weeks time.

11. The applicant is directed to pay an amount of Rs. 10,000/- well in advance before proceedings for making inventory at the site.

12. Decision with regard to final adjustment of expenses and fee of Local Commissioner will be taken after perusal of report to be submitted by the Court Commissioner.

13. File be put up for compliance on 03.08.2022.