Disposed

Marutee Agro Foods v. the Authorisied Officer

Madras HC28 Sept 2021WP(MD)/10865/2020

Case brief

AI extract

What is this about?

In this disposal of a writ petition challenging an e-auction notice for property sale, the Court held that since no bidders emerged and a subsequent sale notice challenge was dismissed, nothing survived of the present petition. The petitioner was advised to approach the bank for the one-time settlement offer.

What did the court decide?

The petition was disposed of with no order as to costs; Writ Memorial Nos. 9547 to 9549 of 2020 were closed.

Marutee Agro Foods Vs the Authorisied Officer — Banking and Recovery | Madras HC (2021)

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W.P.(MD) No. 10865 of 2020

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BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT DATED : 28.09.2021 CORAM :

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THE HON'BLE MR.SANJIB BANERJEE, THE CHIEF JUSTICE AND The HON'BLE MR.JUSTICE M.DURAISWAMY W.P.(MD) No. 10865 of 2020 and W.M.P(MD)Nos.9547 to 9549 of 2020

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M/s.Marutee Agro Foods, 167/9/10, Mettur, Peramangalam, Musiri Taluk, Trichy District, represented by its Managing Director, M.Rajalakshmi Wife of Maheswaran ... Petitioner Vs

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1.The Authorized Officer, Central Bank of India, Regional Office, No.54, First Floor, West Bouleward Road, Opp Devar Hall, Trichy – 620 008.

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2.The Branch Manager, Central Bank Of India, Srirangam Branch, Trichy. ... Respondents

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PRAYER: Petition under Article 226 of the Constitution of India seeking issuance of a Writ of Certiorari, calling for the entire records in connection with the impugned Sale Notice, dated 30.07.2020 in RO/RECV/TRIC/2019-2020, on the file of the first respondent for the sale of immovable properties and plant and machineries of the Petitioner-Rice Mill through E-auction on 04.09.2020 and to quash the same.

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For Petitioner : Mr.R.Sankarasubbu For Respondents : Mr.N.Dilip Kumar Standing Counsel

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ORDER [Order of the Court was made by The Hon'ble CHIEF JUSTICE]

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When the petition was received an order was made on September 2, 2020 by which the respondent bank was permitted to proceed with the e-auction sale scheduled on September 4, 2020 and directed to produce the result of the auction sale before the Court. https://hcservices.ecourts.gov.in/hcservices/

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W.P.(MD) No. 10865 of 2020

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2.The bank reports that there were no bidders at such auction which prompted the bank in issuing a further notice dated September 6, 2021 for a revised e-auction. The bank says that the petitioner challenged the subsequent e-auction notice by way of W.P.(MD). No.17172 of 2021 which has been dismissed by an order of September 22, 2021.

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3.In the light of such subsequent event, nothing survives of this petition. However, the petitioner says that it will be evident from the previous order of September 2, 2020 that considering the special circumstances of the petitioner, the Court appreciated that the one time settlement offered by the bank could not be taken up by making payment within two days.

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4.It will be open to the petitioner to appeal to the bank to keep the OTS offer alive for a reasonable time of no more than a month or so from today for the petitioner to avail of the same, with some nominal additional interest. However, the decision in such regard is entirely left to the bank since the Court cannot interfere in such processes of any settlement between the banker and its constituent.

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W.P(MD).No.10865 of 2020 is disposed of. There will be no order as to costs. W.M.P(MD)Nos.9547 to 9549 of 2020 are closed.

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Assistant Registrar (A.D II)

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// True Copy //

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PM/PJL

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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 .

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1.The Authorized Officer, Central Bank of India, Regional Office, No.54, First Floor, West Bouleward Road, Opp Devar Hall, Trichy – 620 008.

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https://hcservices.ecourts.gov.in/hcservices/

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W.P.(MD) No. 10865 of 2020

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2.The Branch Manager, Central Bank Of India, Srirangam Branch, Trichy.

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+1 CC to M/s.N.DILIPKUMAR, Advocate ( SR-30541[F] dated 28/09/2021 )

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W.P.(MD) No.10865 of 2020 28.09.2021

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NSN(CO) RS (06.10.2021) 3P 4C

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https://hcservices.ecourts.gov.in/hcservices/

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Marutee Agro Foods v. the Authorisied Officer

Case brief

What is this about?

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Marutee Agro Foods v. the Authorisied Officer

Case brief

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