I own a land in the city. I bought this land through a bank auction under sarfaesi act in 2013 with symbolic possession.
These are the facts. The petroleum agency was started by two people let say A and B in partnership. A owned the land and leased it out to the agency. Then A retired from the partnership and few other people joined. A few years later A passed away and his heirs became the owners. The new owners were not interested to own the land so they approached the PSU petroleum company to buy the land, but we in talks but it didn’t work out and after the lease expired, the owners sold the land to another guy let say C. Here pSU petroleum company filed a TS with the court stating preemptive rights To the property. The new owner C failing to get position of the land, took out a loan against this property. When this loan got bad the bank auctioned it. And we bought it. B had also filed injunction against the bank to take possession but they failed and the case got dismissed.
