Petition under Article 226 of the Constitution of India praying that in the circumstances stated in the affidavit filed therewith the High Court may be pleased to issue an appropriate writ, order or direction more particularly one nd in the nature of Writ of Mandamus declaring the action of the 2 respondent in taking collateral security from the petitioner for the loan amount of Rs.50 lakhs infavour of the 4'^ respondent Unit contrary to the Government of India guidelines issued under MSME Schemes and issuing auction sale notice dated 08.07.2024 of the petitioners immovable property Plot.No.57 to an extent of 356.666 sq yards situated at Vemareddy Nagar,Alipuram, Nellore fixing the date for auction on 13.08.2024 even though the loan amount is Rs.45,73,230/- only without taking action for auctioning the Hypothecated Machinery which is valued about Rs. 1,20,00,000/- of the 4 respondent Unit, which is illegal. Arbitrary, and Voilative of Article 14,19,21 and 300A of the Constitution of India and consequently to direct the respondents not to interfere with the peacefull possession of the petitioner property Plot.No.57 to an extent of 356.666 sq yards situated at Vemareddy Nagar, Alipuram, Nellore duly set-a-side the auction notice dated 08.07.2024. lA NO: 1 OF 2024 Petition under Section 151 CPC praying that in the circumstances stated in the affidavit filed in support of the petition, the High Court may be pleased to stay the e-auction on 13.08.2024 of the petitioner’s immovable property Plot.No.57 to an extent of 356.666 sq yards situated at Vemareddy Nagar, Alipuram, Nellore vide auction notice dated 08.07.2024 of the 2"^ respondent, pending disposal of the writ petition.
