Writ petition challenging a sale notice under the SARFAESI Act was closed without adjudication because the auction was not conducted after receiving no bids.
None; Writ Petition closed without adjudication.
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HON’BLE SRI JUSTICE R. SUBHASH REDDY
AND
HON’BLE SRI JUSTICE A. SHANKAR NARAYANA
WRIT PETITION No.40860 OF 2015
ORDER: (Per Hon’ble Sri Justice R. Subhash Reddy)
This Writ Petition is filed questioning the Mega E-auction Sale Notice, dated 13.11.2015, issued for sale of the secured asset pursuant to the measures taken under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, ‘the Act’).
When the matter is called for hearing, it is submitted by the learned counsel for respondent - Bank that pursuant to the impugned auction notice, dated 13.11.2015, no bids are received and as such, the question of undertaking auction tomorrow i.e., 18.12.2015 as notified, does not arise.
As auction is not going to be conducted on 18.12.2015 pursuant to the impugned auction notice, dated 13.11.2015, there is no need to adjudicate on the validity of the impugned auction notice.
Accordingly, the Writ Petition is closed. Miscellaneous Petitions, if any, pending in this Writ Petition, shall stand closed. No costs.
R. SUBHASH REDDY, J
A. SHANKAR NARAYANA, J
December 17, 2015
MD
Petitioner
Bank
R. SUBHASH REDDY
A. SHANKAR NARAYANA
As recorded by the court registry
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