A man who owes Standard Bank more than R3m on his bond and had his home sold, lost his SCA bid to set aside the sale and the subsequent transfer of the property to a new owner. Dayalan Munsami was aggrieved that his Johannesburg multi-million-rand mansion was sold for R360 000 at a public auction.

IoL reports that the auction follows a 2019 court order granted when the bank argued that Munsami was so far behind in his bond payments it was unlikely he would ever be able to make good.

The house was subsequently bought by Hazel Knowler in June 2021, and it was transferred to her name in November 2021.

The sale was conducted after the bank obtained a summary judgment against Munsami, and the property was declared executable, and it was sold on public auction for a fraction of what it was worth.

During the application, the bank argued it was unlikely Munsami would be in a position to pay his indebtedness within a reasonable time.

It argued there was no alternative or less invasive means available to satisfy the anticipated debt. 

IoL notes that the court ruled in favour of the bank.

After the sale, he refused to vacate the house and in February 2022, Knowler filed an application for an order evicting Munsami from the property.

The SCA matter was heard by Judge John Eldrid Smith who said he was not convinced that the bank acted in bad faith and prejudiced Munsami.

IoL notes that the judge further added that Munsami only raised arguments after the sale in execution and the subsequent transfer of the property was completed.

‘Munsami only has himself to blame for his unfortunate dilemma. He had enough opportunities to challenge the summary judgment order or to apply for the stay of the sale in execution.' 

Smith dismissed Munsami's application with costs.

Full IoL report

Judgment