Bank does not have physical possession of the auction property

[Quickdude3853]

Q

Quickdude3853
PARTICIPANT
March 28, 2025 at 5:23 pm

I am in the process of buying a flat through auction from a bank.
I participated in the auction and was the highest bidder. I have a few more out of 15 days to pay the remaining amount.
However, I’ve found out today that this property has an ongoing case filed in DRT, below is the last update, can someone help me understand if everything looks fine?

“I direct the Respondent bank to proceed for auction as per rule. But I stay only confirmation of sale till disposal of this SA and fix the case for hearing on (around 2 months from now). Accordingly I dispose of IA (number) and its counter. On that day both parties may file documents if any. I directed the respondent bank to file reply with all relevant documents on that day.”

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[Ashishmaster940]

A

Ashishmaster940
PARTICIPANT
March 28, 2025 at 8:10 pm

Lawyer here 

Your possession is subject to outcome of the SA

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[Quickdude3853]

Q

Quickdude3853
OP
March 29, 2025 at 5:37 am

Thanks, so do I pay the remaining 15% and wait for the outcome of the SA?

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[Ashishmaster940]

A

Ashishmaster940
PARTICIPANT
March 29, 2025 at 6:20 am

Upto you. 

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