Smt.Singaraju Ammulu Vs The Sydicate Bank

THE HON’BLE SRI JUSTICE K.C. BHANU AND THE HON’BLE MRS JUSTICE ANIS

WRIT PETITION No.22572 OF 2014

ORDER:(per Hon’ble Sri Justice K.C.Bhanu)

This Writ Petition is filed under Article 226 of the Constitution of India seeking to declare the entire proceedings initiated by the first respondent under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, ‘SARFAESI Act’) including the sale notice, dated 27.06.2014, issued by the first respondent as illegal, invalid and unenforceable under law, and consequently, set aside the same and to restrain the respondents from taking any further steps in pursuance of the SARFAESI Act initiated by the first respondent.

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2. Respondent No.4 herein is no other than the brother of the petitioners. He already filed Securitisation Application No.83 of 2014 before the Debts Recovery Tribunal, Visakhapatnam (DRT), in which he also filed I.A.No.231 of 2014 seeking stay of auction notice, dated 26.02.2014, and the same was dismissed on 02.04.2014. Challenging the same, respondent No.4 filed W.P.No.11587 of 2014 before this Court and the same was disposed of with a direction to respondent No.4 to file an appeal before the Debts Recovery Appellate Tribunal, if he is so advised. 3. If the petitioners are aggrieved with regard to issuance of the notice of sale of the properties, which were mortgaged to the bank, they can file Securitisation Application before the DRT and they can also file an appeal before the appellate authority if they are aggrieved by the orders of the DRT. Therefore, we do not see

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any grounds to allow the writ petition.

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4. Accordingly, the Writ Petition is dismissed. There shall be no order as to costs. Miscellaneous Petitions, if any, pending in this writ petition shall stand closed.

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JUSTICE K.C. BHANU

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___________ JUSTICE ANIS

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Date:07.08.2014 INL

Smt.Singaraju Ammulu v. The Sydicate Bank

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Smt.Singaraju Ammulu v. The Sydicate Bank

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