Dismissed

M/s Sai ram Constructions and Material Suppliers v. M/s Indian Bank (Allahabad bank)

Telangana HC15 Dec 2021WP/33768/2021

Case brief

AI extract

What is this about?

The High Court disposed of a writ petition challenging an E-auction notice issued by a bank under the SARFAESI Act regarding a scheduled property. The petitioner had filed a stay application before the Debts Recovery Tribunal which was non-functional. The court directed the petitioner to participate in the auction but cautioned that the sale certificate would not be issued pending the Tribunal's o

What did the court decide?

Writ petition disposed of; interim application dismissed. Directions given to allow petitioner to participate in auction but not issue sale certificate pending Tribunal.

M/s Sai ram Constructions and Material Suppliers Vs… — Banking and Recovery | Telangana HC (2021)

¶1

HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD (Special Originat Jurisdiction)

¶2

WEDNESDAY ,THE FIFTEENTH DAY OF DECEMBER TWO THOUSAND AND TWENTY ONE

¶3

PRESENT

¶4

THE HONOURABLE SRI JUSTICE UJJAL BHUYAN AND THE HONOURABLE SMT JUSTICE P.MADHAVI DEVI

¶5

WRIT PETITION NO: 33768 0F 2021

¶6

Between:

¶7

l\zlls Sai ram Constructions and tr,4aterial Suppliers, Rep bv rts proo Mrs D Sreelatha H No.4-1-298, Kothur Jenda, Subhastinagar,_ Hanm'akonda,-Waiingat district- 506002.

¶8

...PETITIONER/APPLICANT

¶9

AND

¶10

Ir//s lndian Bank (Allahabad bank), Rep by Authorised officer Lashkar Bazaar, Hanmakonda Brach P B No.1 10, House No,6-j-39, Lashkar Bazaar, Hanmakonda - 506001.

¶11

...RESPONDENT/RESPONDENT

¶12

Petition under Article 226 of the constitution of lndia praying that in the circumstances stated in the affidavit filed therewith, the High court may be pleased to pass order or orders or direction more particularly one in the nature of writ of Mandamus or any other appropriate writ, the action of the respondents in fixing the date of auction on 1711212021 in respect of schedule of property, pursuant to E- auctron Sale Notice dt.08/1 11202110811212021, under SARFAESI Act and Rules, 2002, in pursuant of possession notice dated i610812021 as illegal, arbitrary and in violation of provisions of SARFAESI Act and Rules, 2002 and conlequently set aside the said sale Notice d|.o811112021 in respect of schedule property, in cleir violation of provisions of SARFAESI Act and Rules, 2002.

¶13

IAN oF 2021

¶14

Petition under section 151 cPC praying that in the circumstances stated in the affidavit filed in support of the petition, the High court may be pleased to grant stay of all further proceedings of the respondent pursuant to the E-auction sale Notice da1ed.08.11.2021108.122021, under SARFAEST Act and Rules, 2002 fixing the date of auction on 1711212021 in respect of schedule of property, in pursuant of possession notice dated 1610812021 as illegal, arbitrary and in violation of provisions of SARFAESI Act and Rules, 2002 and consequenily set aside the said sale Notice d1.08.11.2021, pending disposal of the present Writ petition.

¶15

Counsel for the Petitioner:SRl. T RANADHIR SINGH

¶16

Counsel forthe Respondent: NONE AppEARED

¶17

The Court made the following:

¶18

HONO JRABLE^{SRIJUSTICEUJJALBHLYAN} AND

¶19

HONOU]'ABLE^{SMTJUSTICE P. MADHAVI DEVI}

¶20

W.P.No.33768^{of 2021}

¶21

Ofdef:^{(Pu tlon blc Si} lustice^{Uijzl Bhuvat)}

¶22

1,. Lleard^{earned couflselfor thepe titionerand lcamed} Standing^{Coursel for the respondent/lndianllank (mergcdu'ith} Allahabad^{Bar k)}

¶23

2, Aggne' ed by^{the action of the rcspondcntin issuingthe} E-auction sal^{notice dated 08'11'2021,undcrthc Securitization} and Reconstr^{lcdon of FinancialAssetsancl I'ln forcemeot of} Security^{InterestAct, 2002 (ftrr short 'thc S,'\R[i'\ESIAcC)'} fi-xing auctior^{sale of the schedulcpr()pcrn' ot1'1 '12'2021'} petitioner^{has filed a Securitisation'\pplicationttnder Section 17} of the^{SAITF\F,SI Act beforethc l)ebts Recorery 'l'ribunal-l'} Hyderabad^{(f'rr short 'the Tribunal'), rvhich has been registered} as S.A.No.1::8^{of 2027' Along rnith the Securitisation} Application, l^{etitionerhasalsofrled a stay peution being I'A'(IR)} No.1055^{ctf 2)27. It is statedthe prescntiy'the'fribuntlis not} functional^{as the Presidingofficer has retiredon attailling the} 2ge^{of super .nnuadon' In such circumstanccs'peutiorrerhas} approached^{tl is Court by filing the Writ Petition'}

¶24

Whilc rclegating thc petitioner to the forum of the'fnbunal in S.A.No.128 o( 2021 , s.c make it cletLt that it rvould be open to the pe titioncr to participate in the E,-auction sale of the schedule properq,' schedulcd on 11 .12.2021,. We further make it clear that rcsp<;rrdcrrt rnav procced rvith tl-re L,-auction sale, but conscqucntial salc ccrtificatc shall not bc issucd t() thc auction purchascr.^'l'hc rn-rpugned sale notice as rvell as the I^j-auction sale oF the schedulc propcrh' rvill be subject ro ourcome of S.A.No.128 of 2021, pcnding bcf<rre the f'ribunal.

¶25

Writ Petition rs, accordingly, disposed of. Related interim

¶26

application s tands dismissed.

¶27

¶28

No costs.

¶29

^,'.?{'l^'^iYtEt['#iil (I_SECTION^OFFICER

¶30

//TRUE^COPY//

¶31

To, 1 The Authorised^{Officer' I'4ls lndian Bank (Allahabad bank)' Lashkar Bazaar'} Hanmakonda^{BrachP a No i';;Ho;se No' 6-1-38' Lashkar Bazaat'} Hanmakonda^{- 506001}

¶32

2 One CC^{to Sri T RanadnrrSingh' Advocate [OPUC]} . Two^{CD CoPies'}

// "

PM Bs a-/

HIGH COURT

DATED:1511212021

ORDER

WP.No.33768 of 2021

;;A,N
lo"u
( n =t,11?4

¶40

Disposing of^{th I WP} Without costs.

¶41

X
...-l/

M/s Sai ram Constructions and Material Suppliers v. M/s Indian Bank (Allahabad bank)

Case brief

What is this about?

What did the court decide?

M/s Sai ram Constructions and Material Suppliers v. M/s Indian Bank (Allahabad bank)

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

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