Indira Devaraj Bhat vs S.Srinivas on 7 June, 2007
26. Chakrapani Naidu vs. Gopal Mudaliar (1972 (2) MLJ 390) was strongly relied on by the learned counsel for the appellant, to show that neither insufficiency of the principal of the bidders, nor insufficiency of price could vitiate the sale. That case was some what the similar to the present case. Suits were filed to prevent the auction, previous auctions were obstructed and the Division Bench had observed that the mortgagee was not actually of any fraudulent conduct and that if bidder offers were not forthcoming, it was because of the obstructive tactics, pursued by the mortgagors and in that conduct, the Division Bench refer to the English Decision to show when the mortgagee is not a trustee of the board of the sale for the mortgagor, but in the same decision, the Division Bench held that the auctioneers records, day books and ledgers were all filed and the Division Bench carefully perused the same and arrived at the conclusion that there was an auction and there was evidence that at the time of auction, there were 40 or 50 persons present and that nothing was done in secrecy. No such evidence is available in the present case.