Ms Bk Industries Ltd. having its registered Office at B-104 v. Indian Bank (Erstwhile Allahabad Bank)
Case brief
What is this about?
Writ petition by borrower company challenging bank auction notice dated 26.06.2024 (auction fixed 24.07.2024) as violating rule 8(6) Security Interest Enforcement Rules 2002 and natural justice; sought stay of auction and restraint on physical possession pending DRAT Allahabad Appeal 551/2022; Bank reported no bidders, appeal dismissed as withdrawn, possession already taken; petition dismissed as infructuous with liberty to approach appropriate forum. Keywords: SARFAESI enforcement, auction notice, cold storage Samastipur, Indian Bank erstwhile Allahabad Bank, DRAT, infructuous.
What did the court decide?
Having regard to the facts placed on record (no bidder turned up on 24.07.2024 and no fresh auction notice issued; the DRAT appeal was dismissed as withdrawn; physical possession of the property already taken), the cause in the writ petition does not survive and the petition is dismissed as infructuous.