One Malladi Vasu is the Managing Partner ofpetitioner firm, namely, tvl/s.Jai Kisan Agri Services, covered by Survey Nos.251lA, 2511AA,, 2511E, 251lEE and 250/AA situated near Agricultural [\4arket Committee, lVladhira, Khammam District. As Sree Rama Cold Storage. situated at Madhira, which was financed by the respondent Bank, failed to repay the loans. its assets were brought to sale under the Securitization and Reconstruction of Financial Assets and Enforcement of the Security lnterest Act, 2002 through e-auction held on 23 07 2A20 The petitioner being the successful bidder has complied with the auction conditions by depositing the entire sale consideration of Rs.5,15,00,0001. When the respondent bank informed the said Vasu that it is ready to carry out necessary documentation and to handover the possession in his favour, he submitted application dated 13.08.2020 to the respondent bank stating that he is interested to get the sale deed registered in favour of the petitioner firm, which was formed vlde Partnership Deed dated 23 07.2020. However. the respondent bank vlde letter dated 17.08 2020 refused to accede to such request by stating that the documentation would be executed only in favour of the successful bidder but not rn favour of the partnership firm, as, the firm itself js not in existence as on the date of the auction and as on the date of the confirmation of the bid. Questioning the said Ietter, the petitioner firm fiJed the present wrlt petition.
