The Court dismissed a writ petition challenging an e-auction/sale notice under the SARFAESI Act. The petitioner failed to comply with a stay order requiring a deposit of Rs.5.50 lakhs. The petition was dismissed, the earlier stay vacated, and no further relief granted.
The writ petition is dismissed; the interim stay order dated 4.1.2013 is vacated.
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W.P.(C) No. 24373 of 2012
7. 14.09.2017 Heard learned counsel appearing for the opp.party no.1-Bank.
This writ petition has been filed challenging the e-auction/sale notic
e dated 4.12.2012 (Annexure-1), issued by the opp.party no.1-Bank under section 13 (4) of the
SARFAESI Act for sale of the mortgaged property.
By order dated 4.1.2013, this Court had directed stay of the sale of t
he mortgaged property, subject to the petitioner depositing an amount of Rs.5.50 lakhs with th
e Bank in two equal instalments, by 15.2.2013.
Learned counsel for the opp.party no.1-Bank on instruction submits tha
t the petitioner has not complied with the interim order of this Court dated 4.1.2013 and has
failed to deposit an amount of Rs.5.50 lakhs till date.
Learned counsel for the petitioner submits that he has no instruction
in the matter.
Considering the submission and keeping in view the fact that the petitioner ha
s failed to deposit an amount of Rs.5.50 lakhs as had been directed vide order dated 4.1.2013,
we are not inclined to interfere in the matter in exercise of extra ordinary writ jurisdictio
n.
The writ petition is accordingly dismissed. Interim order dated 4.1.2013 stands vacated.
S.C. Parija, J.
..
D.Dash, J.
Aks
2
2 issues framed by the court
Whether the writ petition challenging the auction notice under Section 13(4) of the SARFAESI Act should be allowed given the petitioner's failure to deposit amounts as stayed.
Whether the Court should intervene to grant a stay on the sale of mortgaged property despite non-compliance with interim deposit directions.
1 provisions across 1 enactments
Petitioner
Bank
S.C. Parija
D.Dash
As recorded by the court registry
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