The High Court dismissed the writ petition on the ground that the petitioner must establish the maintainability of the securitisation application before the Debts Recovery Tribunal. The Court declined to enter into the issue at this stage.
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THE HONOURABLE SRI JUSTI CE SANJAY KUMAR AND THE HONOURABLE SRI JUSTI CE P.KESHAVA RAO
WRI T PETI TI ON NO.15036 OF 2019
O R D E R
(Per Hon’ble Sri Justice Sanjay Kumar)
The petitioner company is aggrieved by the order dated 28.06.2019 passed by the Debts Recovery Tribunal-II, Hyderabad, in I.A.No.2679 of 2019 in S.A.No.166 of 2019. The said securitisation application was filed by the petitioner company under Section 17 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 assailing the e-auction sale notice dated 12.12.2018 issued by the Punjab National Bank and the auction conducted pursuant thereto on 07.01.2019. Various other reliefs were also sought in relation to the said auction sale.
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that the securitisation application as framed and presented was maintainable. No cause is made out for this Court to enter into that issue at this stage.
___________________
SANJAY KUMAR, J
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P.KESHAVA RAO, J
19 th JULY, 2019
Svv
Petitioner Company
Baddam Srinivas Reddy and others
Sanjay Kumar
P. Keshava Rao
As recorded by the court registry
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