Writ petition challenged a bank's e-auction sale notice over loan dues. Through interim orders the petitioner undertook to clear outstanding dues, paid them in installments, obtained a no due certificate dated 05.02.2025, and the writ petition was closed recording compliance.
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WP(MD). No.28303 of 2024
BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT
Date : 07/02/2025
CORAM
THE HONOURABLE MRS.JUSTICE J.NISHA BANU AND THE HONOURABLE MRS.JUSTICE S.SRIMATHY
WP(MD). No.28303 of 2024 and WMP(MD) Nos.23986 and 23989 of 2024
Thangaraju ... Petitioner
Vs
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WP(MD). No.28303 of 2024
PRAYER :- Writ Petition, filed under Article 226 of the Constitution of India, praying this court to issue a Writ of Certiorari, to call for the records pertaining to the impugned Sale Notice issued by the 2nd respondent dated 08.11.2024 and the sale is scheduled to be held on 28.11.2024 and quash the same on the ground that the same is arbitrary, illegal.
For Petitioner : Mr.M.Sridharan
For Respondent : Mr.V.Balasubramanian for R3 Mr.Ananth C.Rajesh for R2 Mr.K.R.Laxman for R1
ORDER
(Order of the Court was made by J.NISHA BANU, J.)
This writ petition has been filed challenging the sale notice of the 2nd respondent dated 08.11.2024, in and by which, the sale is scheduled to be held on 28.11.2024.
hearing the counsel on both sides, this Court passed the following order:
“The learned counsel for the bank would submit that out of the total outstanding dues of Rs.25,08,895/-, the petitioner has paid a sum of Rs.2 lakhs on 26.11.2024
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and hence, the balance outstanding would be Rs. 23,08,895/-.
2.The learned counsel for the petitioner undertakes to pay the entire amount within a period of one month and in order to show his bona fide, he is willing to pay another sum of Rs.3,00,000/- (Rupees three lakhs only) by 02.12.2024.
3.Recording the submission made by the learned counsel for the petitioner, there shall be an order of interim stay till 03.12.2024.
Call on 03.12.2024 under the caption, 'for recording compliance'.”
“In continuation of our earlier order dated 27.11.2024, the counsels on either side would report that the amount of Rs.3,00,000/- recorded therein, has been paid to the bank.
2.The petitioner shall pay the balance outstanding dues in two consecutive monthly installments from today. For the first installment, the petitioner shall pay a sum of Rs.12,50,000/- (Rupees twelve lakhs and fifty thousand only) and the remaining amount shall be paid in the
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WP(MD). No.28303 of 2024
second installment.
3.For recording compliance of the payment of the first installment, call on 06.01.2025 under the caption 'for recording compliance.'
“As per the original one time settlement, which was already cancelled, there is still an outstanding amount of Rs.23 lakhs, as per the settlement of the learned standing counsel for the bank.
the caption, “for recording compliance”.
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WP(MD). No.28303 of 2024
as no further orders are required to be passed in this writ petition. No
costs. Consequently connected Miscellaneous Petition is closed.
[J.N.B.,J] [S.S.Y.,J] 07.02.2025 NCC : Yes/No Index : Yes/No
RR
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WP(MD). No.28303 of 2024
J.NISHA BANU, J AND S.SRIMATHY, J.
RR
ORDER IN WP(MD) No.28303 of 2024
Date : 07/02/2025
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1 issue framed by the court
Whether the impugned sale notice dated 08.11.2024 scheduling the secured-asset auction should be quashed as arbitrary and illegal.
1 provisions across 1 enactments
Thangaraju
The Reserve Bank of India
The Authorized Officer, Punjab National Bank
The Branch Manager, Punjab National Bank
J.Nisha Banu
S.Srimathy
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
