2023 Page 1 of 8Registrar of Co-operative Societies and Recovery Officer. The dispute was allowed. The 4th respondent was held entitled to a sum of Rs.21,92,942/- with further interest and costs from the borrowers. In recovery proceedings, on 10th June 2019, a sale proclamation was issued by the 3rd respondent for the sale of property held by the 1st and 2nd respondents. The value of the property subject matter of auction was fixed at Rs.80,67,500/- . The sale proclamation of the auction sale fixed on 22nd July 2019 was published in the local newspapers on 4th July 2019. In the auction sale, the highest bid of Rs.81,20,000/- offered by the appellant was accepted. A sale confirmation certificate was issued on 5th September 2019 by the 3rd respondent to the appellant. The amount of Rs.81,20,000/- was deposited by the appellant on 21st July 2019 with the 3rd respondent. The excess amount of Rs.59,64,600/- was sought to be refunded to the borrowers by the 3rd respondent by a cheque along