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2018 (4) TMI 1247 - HC - Indian LawsPayment of balance of sales consideration alongwith interest - auction - petitioner sought some more time to make the full and final payment and assured that all outstanding payment shall be settled on or before 10.2.2017 - whether Rule 9(4) of the Rules which stood amended w.e.f. 4.11.2016 will govern the auction process which stood initiated on 2.11.2016 or the said auction process is to be governed by the Rules which were in vogue as on the date when the said auction process was put into motion by way of issuance of an advertisement? Held that: - Sub Rule (4) of un-amended Rule 9 thus, inter alia, provided that the balance amount of purchase shall be paid by the purchaser to the authorized officer on or before 15th day of confirmation of the sale of immovable property or such extended period as may be agreed upon in between the parties. The embargo of maximum of three months was not there in the un-amended Rules. This embargo has been created by the amended Rules which have come in force w.e.f. 4.11.2016. It is settled principle of law that a process put into motion has to be taken to its logical conclusion as per the Rules which were in vogue at the time when the process was initiated and even if there is subsequent change in the Rules, then also the process which already stood initiated has to be completed as per old Rules itself. Amendments are always prospective until and unless the language of the Rule itself envisages that the amendment is sought to be retrospective - In the present case, it is not in dispute that the amendment so incorporated in Sub Rule (4) of Rule 9 (supra) was introduced w.e.f. 4.11.2016. Thus the amendment itself makes it clear that the same is prospective and not retrospective. Whether the act of respondents No.2 and 4 of forfeiting the amount so deposited by the petitioner and thereafter subjecting the property to re-auction is arbitrary or not? - Held that: - Respondent-Bank rather than permitting the petitioner to deposit the balance amount, of course along with interest for the delayed period, went ahead to re-auction the property. Now the reauction was slated for the month of May, 2017 i.e. subsequent to the month in which petitioner had assured respondents No.2 and 4 that he shall be paying the entire purchase amount to the bank - the act of the respondent-bank forfeiting the amount deposited by the petitioner and initiating fresh steps for reauctioning the property in issue is arbitrary. Petition allowed - Petitioner is directed to deposit the balance purchase amount with respondents No.2 and 4 along with interest as per communication dated 31.12.2016 as calculated upto 30.4.2017 on or before 15.12.2017 - decided in favor of petitioner.
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