Madras HC directs nationalised bank to return ₹55.50 lakh with 9% interest from 2012 to an auction purchaser of a residential house Justices R. Mahadevan and Mohammed Shaffiq say that the failure of the bank to inform the purchaser about the encumbrances in the property amounts to breach of trust July 17, 2023 08:17 pm | Updated 08:17 pm IST – CHENNAI

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Madras HC directs nationalised bank to return ₹55.50 lakh with 9% interest from 2012 to an auction purchaser of a residential house
Justices R. Mahadevan and Mohammed Shaffiq say that the failure of the bank to inform the purchaser about the encumbrances in the property amounts to breach of trust
July 17, 2023 08:17 pm | Updated 08:17 pm IST – CHENNAI

MOHAMED IMRANULLAH S.
COMMENTSSHAREREAD LATER

The judges agreed with the petitioner’s counsel that his client had suffered huge losses in the last 11 years 

The Madras High Court has directed a nationalised bank to refund sale consideration of ₹55.50 lakh, along with 9% interest from 2012, to an auction purchaser of a house since the successful bidder had not been able to take possession of the property till date because it was subsequently found to be located on a land classified as a water body.

Third Division Bench of Justices R. Mahadevan and Mohammed Shaffiq criticised Indian Bank for not taking the responsibility of handing over the property, free of all encumbrances to the auction purchaser D. Karthikeyan and instead making him run from pillar to post seeking refund of the amount that he deposited”
https://www.thehindu.com/news/national/tamil-nadu/madras-hc-directs-nationalised-bank-to-return-5550-lakh-with-9-interest-from-2012-to-an-auction-purchaser-of-a-residential-house/article67090039.ece#:~:text=Madras%20HC%20directs,that%20he%20deposited