The High Court of Madras dismissed the writ petition as infructuous. The court held that the interim stay order was not complied with and the scheduled auction did not take place, rendering the challenge to the sale notice futile.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED : 06.07.2017
CORAM:
THE HON'BLE MR.JUSTICE S.MANIKUMAR AND
THE HON'BLE MRS.JUSTICE V.BHAVANI SUBBAROYAN
W.P.No.11430 of 2017 and
W.M.P.No.12391 of 2017 1. M/s.Fashion Leather Exports, Rep. by its Partners, Mr.I.Nisar Ahmed Khan and Mr.N.Riyaz Ahmed Khan 2. Mr.I.Nisar Ahmed Khan 3. Mr.Riyaz Ahmed Khan. ... Petitioners
Vs.
United Bank of India, Rep. by its Senior Manager/Authorised Officer, Madras Branch,
No.117, Armenian Street, Chennai - 1. ... Respondent
WRIT Petition filed under Article 226 of the Constitution of India, praying for the issuance of a writ of certiorari, calling for the records pertaining to Auction Sale Notice dated 11.04.2017, issued under Section 13(8) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, by the respondent bank and quash the same.
For Petitioners : Mr.Aravind Subramaniam For Respondent : Mr.P.S.Ganesh
ORDER
(Order of the Court was delivered by S.MANIKUMAR, J)
Record of proceedings shows that on 28.04.2017, in WMP No.12391 of 2017 in W.P.No.11430 of 2017, this Court passed the following order.
"There shall be an order of interim stay on condition that the petitioner shall deposit a sum of Rs.4 Crores on or before 10.05.2017 to the https://hcservices.ecourts.gov.in/hcservices/ credit of the respondent Bank. If the said amount
is not deposited within the stipulated period, interim stay granted stand vacated automatically and the respondent may proceed with the sale of the property. Notice.
Post the matter during third vacation Court."
Sd/Assistant Registrar(CS VIII) //True Copy// Sub Assistant Registrar ars To The Senior Manager/Authorised Officer, United Bank of India, Madras Branch, No.117, Armenian Street, Chennai - 1.
+1cc to Mr.Aravind Subramaniam, Advocate, S.R.No.47394
W.P.No.11430 of 2017 and W.M.P.No.12391 of 2017
BR(CO) CA(21/07/2017)
1 issue framed by the court
Whether the writ petition challenging the auction sale notice has become infructuous due to non-compliance with the interim stay conditions and the failure of the auction to proceed.
2 provisions across 2 enactments
M/s.Fashion Leather Exports
United Bank of India
S. MANIKUMAR
V. BHAVANI SUBBAROYAN
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
