This court dismissed a writ petition challenging a bank's auction of secured assets on the ground that the remedy under Section 17 of the SARFAESI Act was available and a prior similar petition was dismissed as withdrawn.
Liberty granted to approach Debts Recovery Tribunal; writ petition dismissed.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
HON’BLE SRI JUSTICE R.SUBHASH REDDY AND HON’BLE SRI JUSTICE A.SHANKAR NARAYANA
WRIT PETITION No.41657 of 2015
ORDER : (Per Hon’ble Sri Justice R.Subhash Reddy)
This writ petition is filed for Mandamus to declare the action of the respondent Bank in conducting auction of the secured assets on 20.07.2015 pursuant to auction notice, dated 10.06.2015, in exercise of powers under the SARFAESI Act.
Earlier also the petitioners have approached this Court by filing W.P.No.30195 of 2015, which was dismissed as withdrawn granting liberty to the petitioners to approach the authorities under the SARFAESI Act if they are aggrieved by the auction conducted.
Even in this writ petition, the only ground urged by the petitioners is that the reserve price for the secured asset, which was auctioned, was not properly fixed. There is no reason to entertain this writ petition in view of the remedy available under Section 17 of the SARFAESI Act and more particularly in view of the order passed by this Court in W.P.No.30195 of 2015.
Hence, granting liberty to the petitioners to approach the Debts Recovery Tribunal, this writ petition is dismissed. No
order as to costs.
As a sequel, pending miscellaneous petitions, if any, shall stand closed.
____________________________ JUSTICE R. SUBHASH REDDY
________________________________ JUSTICE A.SHANKAR NARAYANA
22.12.2015 v v
1 issue framed by the court
Whether a writ petition challenging the fixation of reserve price for auction of secured assets should be entertained in view of available remedies under Section 17 of the SARFAESI Act.
1 provisions across 1 enactments
Petitioners
Respondent Bank
R SUBHASH REDDY
A SHANKAR NARAYANA
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
