Sanisetti Naga Keerthi Vs State Bank of India

SANISETTI NAGA KEERTHI, D/O NAGA SRINIVAS RAO, AGED ABOUT 28 YEARS, OCC HOUSEHOLD, R/O D.NO. 18-4, KOTIREDDYPETA,PAMARRU, KRISHNA DISTRICT, ANDHRA PRADESH - 521157.

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...PETITIONER

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AND

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STATE BANK OF INDIA, STRESSED ASSESTS RECOVERY BRANCH, ADMINISTRATIVE OFFICE CAMPUS, BALAJI NAGAR, SIRIPURAM JUNCTION, VISHKHAPATNAM - 530003, REP. BY ITS AUTHORISED OFFICER

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THE HONBLE DEBTS RECOVERY TRIBUNAL, VISHAKHAPATNAM, REP BY ITS REGISTRAR. D NO. 31 -31 -21, SAI BABA STREET, NARAYANA BHAVAN, DABAGARDENS, VISAKHAPATNAM

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...RESPONDENT(S):

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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 an18, appropriate writ, order or direction more particularly one in the nature of Writ of Mandamus by calling for the records of the order dated 28.11.2025 of the Learned Debts Recovery Tribunal, Visakhapatnam made in LA. No.4534/2025 in S.A.No.203/2024 filed by the petitioner ordering notice on the application for grant of stay of all further proceedings including

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CMR,J & GTK,J W.P.No.36656 of 2025

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issuance of Sale Notice dated 10.11.2025 slating the date of auction on 01.12.2025 in respect of the immovable property, i.e., that land and building admeasuring 629.60 Sq., Yrds (435.60 SqYrds plus 194 SqYrds), located in RS No. 307/3, Near Door No 20- 105, Akiveedu Village, West Godavari District, Andhra Pradesh under SARFAESI Act, 2002 as arbitrary, illegal and violative of principles of natural justice and against the rights conferred under Article 300-A, of Constitution of India and provisions of SARFAESI Act, 2002 and consequently direct the 1st respondent to refund to forthwith return the entire amount of 38,55,000/- paid by the Petitioner with interest @ 24 percent per annum to the petitioner forthwith and to pass

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IA NO: 1 OF 2025

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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 grant stay of all further proceedings of the 1st respondent not to proceed further in pursuant to the Sale Notice dated 10.11.2025 slating the date of auction on 01.12.2025 in respect of the immovable property, i.e., that land and building admeasuring 629.60 Sq., Yrds (435.60 SqYrds +194 SqYrds), located in RS No. 307/3, Near Door No: 20-105, Akiveedu Village, West Godavari District, Andhra Pradesh till the disposal of the S.A.No.203/2024 pending on the file of the Debts Recovery Tribunal, Visakhapatnam, pending disposal of the Main Writ Petition and pass

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Counsel for the Petitioner:

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1.V V RAMANA

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Counsel for the Respondent(S):

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1.

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CMR,J & GTK,J W.P.No.36656 of 2025

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The Court made the following:

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ORDER: (Per Hon’ble Sri Justice Cheekati Manavendranath Roy)

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Heard Mr. V.V.Ramana, learned counsel for the petitioner and Mr. S.Satyanarayana, learned Standing counsel for respondent No.1-Bank.

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The petitioner is an auction purchaser who has participated in the auction held for sale of the secured asset for realisation of the loan amount from the principal borrower and the guarantors. The auction was knocked down in favour of the petitioner. It appears that he has deposited 25% of the bid amount, but failed to deposit the balance amount within the time stipulated. Therefore, when the Bank has taken steps to conduct fresh auction for sale of the said property as the petitioner failed to deposit balance sale consideration, aggrieved by the same, he approached the learned Debts Recovery Tribunal by way of filing an Securitization Application (SA) No.203 of 2024 seeking redressal of his grievance. Alongside the said Securitization Application, he also filed I.A.No.4534 of 2025 seeking stay of sale of the property in a fresh auction.

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The grievance of the petitioner is that the Debts Recovery Tribunal, without disposing of the stay petition, has posted the matter to 20.01.2026 and in view of the urgency as the Bank may sell the property at any moment of time, he has approached this Court by way of filing Writ Petition.

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As the petitioner has already invoked the jurisdiction of the appropriate forum which is Debts Recovery Tribunal, for redressal of his grievance, we are not inclined to interfere in the matter and entertain the Writ Petition and to permit the petitioner to maintain parallel proceedings.

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Therefore, the Writ Petition is disposed of with a direction to the respondent No.2-Debts Recovery Tribunal, Visakhapatnam, to hear and dispose of the said stay petition expeditiously on 20.01.2026, to which date the said stay petition is posted, as per the submissions made by the learned

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Standing counsel for respondent No.1-Bank. The respondent No.1-Bank shall file its counter, if any, on or before 20.01.2026 and cooperate with the Tribunal for disposal of the stay petition. The Debts Recovery Tribunal shall dispose of the stay petition on merits according to law. There shall be no order as to costs.

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As a sequel, Interlocutory Applications pending, if any, shall stand closed.

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________________________________________ JUSTICE CHEEKATI MANAVENDRANATH ROY

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_____________________________ JUSTICE TUHIN KUMAR GEDELA

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Date: 06.01.2026 SNI

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