Writ petition filed regarding a notice of sale under S. 79 SB Act (implicated in facts). Court disposed of the petition as infructuous since the sale date passed without the auction taking place.
Petition disposed as having become infructuous.
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NC: 2024:KHC:1821 WP No. 1383 of 2024
IN THE HIGH COURT OF KARNATAKA AT BENGALURU
DATED THIS THE 2ND DAY OF FEBRUARY, 2024
BEFORE
THE HON'BLE MR JUSTICE M.NAGAPRASANNA WRIT PETITION NO. 1383 OF 2024 (GM-RES)
BETWEEN:
Digitally signed by PADMAVATHI B K Location: HIGH COURT OF KARNATAKA
…PETITIONERS
(BY SRI. BHARGAV G., ADVOCATE)
NC: 2024:KHC:1821 WP No. 1383 of 2024
AND:
…RESPONDENTS
(BY SRI. RUKKOJI RAO H. S., ADVOCATE)
THIS WP IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO QUASH ANNEXUREA DTD 27.12.2023 ISSUED BY THE RESPONDENT AND ETC.
THIS PETITION, COMING ON FOR PRELIMINARY HEARING
'B' GROUP, THIS DAY, THE COURT MADE THE FOLLOWING:
ORDER
The petitioners are before this Court calling in question a
notice of sale dated 27.12.2023.
NC: 2024:KHC:1821 WP No. 1383 of 2024
2. Heard Sri. Bhargav G., learned counsel appearing
for the petitioners, Sri. Rukkoji Rao H.S., learned counsel appearing for the respondents and have perused the material on record.
19.01.2024:
"Heard the learned counsel for the petitioners and Sri.H.S.Rukkoji Rao, learned counsel for the respondents.
The petitioner calls in question a notice of sale dated 27.12.2023, sale of which is related to be held on 30.01.2024. The amount in due is Rs.14,30,93,616.38ps. (Rupees Fourteen Crore Thirty Lakhs Ninety Three Thousand Six Hundred Sixteen and Thirty Eight Paisa only). It is submitted by the counsel for the respondent – Bank that the petitioner has not paid any amount after the Account was classified as Non-Performing Asset.
The learned counsel for the petitioner undertakes that before the date of auction, 10% of the amount in due would be paid and further time be granted.
In the light of the said submission, the sale intended to be held on 30.01.2024 shall go on, but the Certificate of Sale shall not be issued in favour of the auction purchaser, subject to the condition that the petitioner would deposit 10% of the amount in due on or before 29.01.2024.
List the matter on 02.02.2024."
Bank submit that the sale on the said date did not take place
NC: 2024:KHC:1821 WP No. 1383 of 2024
on the score of the interim order granted and the petitioners have not paid even a rupee pursuant to the interim order. Therefore, there is blatant breach of the interim order.
date, the petition is disposed as having become infructuous.
Sd/JUDGE
SJK List No.: 1 Sl No.: 18
1 provisions across 1 enactments
Sri Ameerul Murtuza
Sri. Ameerul Sheeraz
Smt. Shahnaz Fathima
Smt. Shabareen Taj
Canara Bank Nagamangala Branch
Authorized Officer/Chief Manager Canara Bank
M. Nagaprasanna
As recorded by the court registry
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