Hello, An auction notice was advertised in newspaper in Feb. 2018 in Lucknow for Sarfaesi auction of my neighbour's house which was lying vacant but neighbor was a land mafia and wilful defaulter. His many properties were auctioned but no one dared to buy but we are officers so we were not afraid. When he saw us being interested in property worth 1.5 crore, he tried to ask more time from bank (which bank refused). We were the single (sole) bidder and depostied 25% + Earnest money deposit fist day. He approached High Court but High court said approach DRT. Before he could approach DRT, Sale certificate was issued to us as we paid the remaining amount within a week. After that, bank did not co-operate with getting the regstry done. In Uttar Pradesh, local aws require registry to be done . DRT directed te bank not to approach further but District MAgistrate ordered the bank to take possession. But DRT stayed the DMs order and directed the bank not to take possession till case is decided. The borrower is alleging false claims of collusion as we were the single bidder and his wife (being gurantor) did not get notice. The borrower is wilful defaulter, a local mafia with non bailable warrants issued against him. Bank is also supporting him. 4 months ur 1.5 crore are stuck. Meanwhile , we have appealed to DRAT against stay order of DRT but there also we expect little. What should we do?
