Petitioner, a successful auction bidder, sought extension of time to pay the balance consideration due to financial difficulty arising from the Covid-19 pandemic and lockdown.
Petitioner granted two weeks time from the date of receipt of order copy to pay the balance bid amount to the first respondent.
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.
W.P(MD)No. 9400 of 2020
Kaleeswari
BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT DATED:19.08.2020
CORAM:
THE HONOURABLE MR.JUSTICE M.SATHYANARAYANAN
and
THE HONOURABLE MR.JUSTICE P.RAJAMANICKAM
W.P(MD)No. 9400 of 2020
... Petitioner
Vs.
1.The Assistant General Manager, STRESSED ASSETS RECOVERY BRANCH, Vinayanagar Branch, 8, Dr.Ambedkar Road, Madurai-20.
2.The Authorized Manager,
State Bank of India, SARB Madurai (13165) Branch, Madurai-20. ... Respondents
Prayer: Writ petition filed under Article 226 of the Constitution of India, praying to issue a Writ of Mandamus directing the 1st respondent herein to extend the time to deposit the remaining amount a sum of Rs.7,55,200/- which this Court may deem fit and proper.
For Petitioner : Mr.M.Jothibasu For Respondents : Mr.N.Dilip Kumar Standing Counsel
ORDER
(Order of the Court was made by M.SATHYANARAYANAN, J. )
The petitioner is the successful bidder in the E-Auction sale which took place on 26.11.2019 in respect of the landed property situate in Sy.No.603/2B and 619/2 of Kunnur Village, Watrap Panchayat Union, Srivilliputhur Taluk and the said property was brought to sale, in view of the default committed by the borrower. Hence, the second respondent initiated proceedings/action, in terms of the provisions of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). The petitioner was declared as a successful bidder and on various dates, he remitted the amount aggregating to a sum of Rs.40,94,000/- and according to the learned counsel appearing for the petitioner, total sum of rupees remitted is Rs.58,26,000/- and he has to remit the balance sum of Rs.7,55,200/-. It is the further submission of the learned counsel appearing for the petitioner that on account of the outbreak of Covid-19 Pandemic Virus, the petitioner feels some difficulty in mobilizing the balance amount. In this regard, he has submitted a representation dated 27.07.2020 to the first respondent praying for extension of time. However, vide response dated 29.07.2020, the respondents Bank was not inclined to consider the said request. However, the said https://hcservices.ecourts.gov.in/hcservices/
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W.P(MD)No. 9400 of 2020
proceedings of the first respondent dated 29.07.2020 have not been put to challenge and what is sought for by the petitioner is mandamus praying for appropriate direction, directing the first respondent to positively consider his representation for payment of the balance bid amount.
// True Copy //
/ /2020 Sub Assistant Registrar(CS)
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W.P(MD)No. 9400 of 2020
VS
Note:
In view of the present lock down owing to COVID-19 pandemic, a web copy of the order may be utilized for official purposes, but, ensuring that the copy of the order that is presented is the correct copy, shall be the responsibility of the Advocate/litigant concerned.
+1 CC to Mr.M. JOTHI BASU, Advocate ( SR-14471[F] dated 20/08/2020 )
+1 CC to Mr.N. DILIPKUMAR, Advocate ( SR-14563[F] dated 20/08/2020 )
W.P(MD)No.9400 of 2020 19.08.2020
KM (28.08.2020) 3P 3C
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3 issues framed by the court
Whether the petitioner, a successful bidder hindering due to the Covid-19 pandemic, merits an extension of time to pay the balance bid amount.
Whether the First Respondent should be directed to positively consider the petitioner's representation for extension of time for payment.
Whether the Writ Petition should be disposed of granting relief for payment of the remaining balance amount.
2 provisions across 2 enactments
Kaleeswari
The Assistant General Manager, STRESSED ASSETS RECOVERY BRANCH, Vinayanagar Branch
The Authorized Manager, State Bank of India, SARB Madurai (13165) Branch
M.SATHYANARAYANAN
P.RAJAMANICKAM
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
