TaxTMI 
TaxTMI 
2018 (12) TMI 146
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....are the joint auction purchasers of the property comprised in S.No.1318/1 & 1319/1 at Anaiyur village along with their erstwhile partner one K.Govindan. The properties comprised in the afore-said survey numbers including other properties were originally belonged to one M/s.Ravi Shankar Fire Works, Sivakasi and its Partners. It is averred that the factory concern obtained a loan from the Indian Overseas Bank, Sivakasi branch by mortgaging its property as surety for the same. Since there was some default in the repayment of the amount, the secured property was classified as Non-performing Asset by the bank and in furtherance of the same, the Bank proceeded under the provisions of SARFAESI Act,2002. Subsequently, the possession of the defaulte....
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....ndicated the fact that the auction purchaser has to pay dues to the statutory authorities. On that condition, it granted interim stay and subsequently, when it was listed on 27.03.2012 also, the learned counsel for the petitioner sought time to produce the notification and it was adjourned to 18.04.2012. Pending the said Writ Petition, the petitioners moved another W.P.(MD).No.4921 of 2012, in that, this Court granted an order of interim stay on 16.04.2012. On 20.04.2018, both the Writ Petitions were tagged together and listed for further hearing. 3. A detailed counter affidavit has been filed on 30.07.2002 itself, in which, it is stated that the sales tax dues were payable by the defaulted assessee Firm M/s.Ravi Shankar Fire Works Factory....
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....ld be receivable at a later date and such was the legal obligation cast upon them. 3.1. Further, the IOB was specifically reminded on 30.06.2006 to realise the Government due along with the dues to the said bank loan and again in its letter dated 29.12.2006 citing various decisions of the legal forums on the first charge upon the defaulters property and was called upon to stall further transfer proceedings in respect of those properties. But the IOB ignoring such notices issued the Sale Certificate dated 29.03.2007 stated supra, transferred the properties in favour of the petitioners following the auction proceedings held on 27.10.2005. 3.2. It is further averred that the petitioners filed first Writ Petition W.P.(MD)No.2728 of 2012 again....
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....ng of the impugned order issued in both the Writ Petitions. 5. Per contra, learned counsel appearing for the respondent would submit that Notice in 'Form No.4' was issued followed by Notice under 'Form No.5' was issued and the same was also published in Virudhunagar District Gazette dated 26.01.2004. Subsequently, notice under 'Form No.6 dated 01.11.2001 was also issued. Due process of law was followed scrupulously to enlighten the actual facts to the bona fide purchasers so as to avoid the third party interest in the subject properties. Despite all these factual aspects, the petitioners went ahead of purchasing the property in question. The petitioners never disputed their ignorance of sales tax dues in their affidavit....