can finanace co. sell property

Hi, Sarfaesi law, finanace co. Taken possesion of property for which i did register banakhat. Now, i am.not borrower of loan of finanace co., im third party purchaser. I have register banakhat, can finance co. Sell this property in auction?? Or i can make any objection as property ownner? Plz guide on this, thanks