The writ petition assailing an e-auction notice was disposed of as withdrawn after the respondent reported a successful e-auction sale to the court.
Disposed of as withdrawn with costs made easy to the respondent.
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IN THE HIGH COURT OF KARNATAKA AT BENGALURU
DATED THIS THE 8TH DAY OF OCTOBER, 2021
BEFORE
THE HON’BLE MR. JUSTICE KRISHNA S.DIXIT
WRIT PETITION NO.5719 OF 2021 (GM-RES)
BETWEEN:
M/S. MAHAYAKSHA POLYMERS PVT. LTD., NO.3, 3RD CROSS, BEHIND MARUTI GARUDA SHOWROOM, LALBAGH ROAD, BANGALORE - 560 027.
REP BY ITS DIRECTOR, SRI. JAYANTI RAMSISARIA, AGED ABOUT 30 YEARS.
…PETITIONER
(BY SRI. PARAS JAIN, ADVOCATE)
AND:
IDBI BANK LTD., NPA MANAGEMENT GROUP, D.NO.5-9-89/1 & 2, CHAPEL ROAD, HYDERABAD - 500 001. REP BY ITS AUTHORISED OFFICER, www.idbibank.in
…RESPONDENT
(BY SRI. NAGARAJ DAMODAR, ADVOCATE)
THIS WRIT PETITION IS FILED UNDER ARTICLES 226 & 227 OF THE CONSTITUTION OF INDIA PRAYING TO DIRECT THE RESPONDENT BANK OF DESCRIBED IN THE SALE NOTICE DTD 07.03.2021 VIDE ANNX-B NAME OF THE OWNER BORROWER, GUARANTOR AND PROPER MEASUREMENT OF THE PROPERTY AS PER RTC/REVENUE RECORDS AND TO CONVEY ABSOLUTE TITLE TO THE PURCHASER, IN WHOSE FAVOR BID IN ACCEPTED AND SALE IS CONFIRMED AND ETC.
THIS WRIT PETITION COMING ON FOR ORDERS THIS DAY, THE COURT MADE THE FOLLOWING:
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ORDER
Learned counsel for the petitioner seeks leave to
withdraw the writ petition and the respondent has filed a memo dated 08.10.2021, reporting successful e-auction sale of secured asset to that effect; the same is taken on record and it reads as under:
"The undersigned counsel for the respondent humbly submits that the auction sale of the secured asset scheduled on 05.10.2021 has been successfully conducted and the sole highest bidder 'SARAF POLYSYNTHETICS PRIVATE LTD' has already deposited 25% of the bid success amount as per the terms of sale notice.
In view of the said successful e-auction sale of the secured asset and since the petitioner failed to participate in the said auction sale, the above writ petition filed by the petitioner assailing the e-auction sale notice dated 07.03.2021 and its conditions (which auction failed to materialize for want of bidders) don't survive for consideration.
Therefore, this Hon’ble Court may kindly be pleased to take this Memo on record and thereby dismiss the above writ petition as having become infructuous, in the interest of justice and equity."
Accordingly, writ petition is disposed off as withdrawn
in terms of the above said memo.
Costs made easy.
Sd/JUDGE
DS/GRD
M/s. Mahayaksha Polymers Pvt. Ltd.
IDBI Bank Ltd., NPA Management Group
Krishna S. Dixit
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
