Disposed

R.Kalpana, v. The State Bank of India

Telangana HC22 Aug 2012WP/25746/2012

Case brief

AI extract

What is this about?

The court disposed of a writ petition assailing a tender-cum-auction notice issued under the SARESA Act, 2002. The petitioners offered to deposit 50% of dues and pay the balance in two installments. The bank agreed to postpone the auction for four weeks allowing payment.

What did the court decide?

The auction scheduled for 29.8.2012 was postponed for four weeks to allow petitioners to pay dues as per their undertaking.

R.Kalpana, Vs The State Bank of India — Banking and Recovery | Telangana HC (2012)

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THE HON’BLE THE ACTING CHIEF JUSTICE SRI PINAKI CHANDRA GHOSE AND THE HON’BLE SRI JUSTICE VILAS V. AFZULPURKAR

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Writ Petition NO.25746 OF 2012

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DATED:22.8.2012

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Between: R. Kalpana and others. … Petitioners And The State Bank of India, Chilamkur Branch, Yerraguntla Mandal, Y.S.R. District.

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…. Respondents

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THE HON’BLE THE ACTING CHIEF JUSTICE SRI PINAKI CHANDRA GHOSE AND

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THE HON’BLE SRI JUSTICE VILAS V. AFZULPURKAR

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WRIT PETITION No.25746 of 2012

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Order: (per the Hon’ble the Acting Chief Justice Sri Pinaki Chandra Ghose)

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Assailing the tender-cum-public auction notice dated 18.7.2012 issued by the respondent-bank under Section 13(4) of the Securtization and Reconstruction of Financial Assets & Enforcement of Security Interest Act, 2002, the petitioners filed the present writ petition.

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According to the writ petitioners, Rs.6,46,495/- is the outstanding amount as on 11.8.2012 as per the statement furnished by them to the respondent-bank. Petitioners further stated that the respondent-bank is proposing to auction the property in question as per the advertisement given by it on 29.8.2012. Petitioners submit that 50% of the outstanding amount will be deposited by them on or before the said auction date with the respondent-bank. They further undertake through the learned counsel appearing on their behalf to pay the balance outstanding amount in two equal instalments, first of which will be paid within a period of two weeks thereafter and the last and final instalment will be paid within a period of two weeks after the first instalment is paid.

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Under the circumstances, if such payments are made by the petitioners as suggested and submitted before us by the learned counsel for the petitioners, the respondent-bank will not conduct the auction on 29.8.2012 as advertised. Learned counsel appearing for the respondent-bank also fairly submitted that the bank will postpone the auction for a period of four weeks and will give a chance to the writ petitioners to pay off the dues within such time.

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On the above terms, the writ petition is disposed of. No costs.

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__________________________ PINAKI CHANDRA GHOSE, ACJ

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______________________ VILAS V. AFZULPURKAR,J

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22-8-2012 pnb

R.Kalpana, v. The State Bank of India

Case brief

What is this about?

What did the court decide?

R.Kalpana, v. The State Bank of India

Case brief

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What did the court decide?

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