Legal Question in Banking Law in India

in terms of the Supreme court's various decisions,a bank or for that matter a financial institution should act fairly. Only if the mortgagor gives consent, the bank can go in for sale by private treaty. Otherwise, fairness requires that the bank advertises by public auction the sale of the property . If it does not get a good offer in such process, it can go in for sale by private treaty. In such an eventuality, it is expected that the bank puts the mortgagor on notice that the Bank has received a better offer by private sale, and if the borrower is able to bring a serious offer higher than that, within a time stipulated, the bank will sell the property to the better offerer. Otherwise, the bank will go ahead with the offer it has received. Thus fairness which is expected of a bank will be got established. The rules are only enabling provisions. That does not mean the bank can act arbitrarily without taking into confidence the mortgagor