Dismissed

Gambhirapuram Ramchandra Rao v. M/s. Canara Bank

Telangana HC15 Jun 2022WP/25333/2022

Case brief

AI extract

What is this about?

The High Court held that the petitioner had an adequate alternative remedy under Section 17 of the SARFAESI Act. It directed the petitioner to file a securitisation application and deposit 15% of dues within 30 days; otherwise, the auction notice could proceed.

What did the court decide?

Petitioner directed to file securitisation application and deposit 15% of dues within 30 days; e-auction stayed if complied with, otherwise open to bank to proceed.

Gambhirapuram Ramchandra Rao Vs M/s. Canara Bank — Banking and Recovery | Telangana HC (2022)

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HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD

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(Special Original Jurisdiction)

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IUONDAY, THE TWENTIETH DAY OF JUNE TWO THOUSAND AND TWENTY TWO

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PRESENT

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THE HONOURABLE SRI JUSTICE UJJAL BHUYAN AND

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THE HONOURABLE MRS JUSTICE SUREPALLI NANDA

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WRIT PETITION NO: 25333 OF 2022

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Between:

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Gambhirapuram Ramchandra Rao, S/o. G. Venkat Rao, Aged about 52^years, Occ.Business, Ryo.3-7-5'1/19, I\rlansoorabad, L.B.Nagar, Hyderabad^- 500074.

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...PETITIONER

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AND

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M/s. Canara Bank, (E-Syndicate Bank. Jai Santosh Nagar Colony Branch, T-7114, Street No.8, Maheshwari Nagar Habsiguda, Hyderabad-500007. Rep. by its Authorized Officer.

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...RESPONDENT

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Petition Under Article 226 of lhe Constitution of lndia^praying that in the circumstances stated in the affidavit filed therewith, the High Court may be pleased to issue an appropriate writ, order or direction more particularly one in the nature of Writ of Mandamus declaring the action of the respondent in issuing E-Auction Sale Notice 05.05.2022 published in Business Line on 12.O5.2022 slating the date of auction on 15.06.2022 against the subject property as illegal, arbitrary and contrary to the provision of SARFAESI Acl, 2002 and consequently set aside the same.

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l.A.NO:1 OF 2022

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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 in pursuance to the E-Sale Notice dated 05.05.2022 published in Business Line on 12.05.2022 slating the date of auction on 15.06.2022, pending the disposal of the above writ^petition.

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Counsel for the Petitioner : SRI.V.V.RAMANA Counsel for the Respondents : NONE APPEARED The Court made the following ORDER

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THE HOIIOURABLE SRI JUSTICE^{UJJAL BHUYAN}

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AND

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THE HONOURABLE MRS JUSTICE^{SUREPALLI NANDA}

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u'RIT PETITION No.25333 of 2022

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qRD- JB: per Lton'ble Sri Justice Ujjal Bhuyan)

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Heard Mr. V.V.Ramana, learned^{cot-lnscl forthe} petitioner anrl Mr. A.V.S.S.Prasad,^{learncd cout-rselfor} res;pondent-C a nara Bank.

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Petitioner is aggrieved by^{E-auction sale notice} dated 05.05.2022 proposing to^{hold auction sale of schedule} prrrperty on 75.06.2022.

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We lind that as per the sale notice'^{five (5) schedule}

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prrrperties are proposed to be auction sold^{on 15-06.2022.} Insolar this writ petition is concerned, it^{relates to schedule} property at S1.No.5.

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4 Aftt:r hearing learned counsel for the^{perrtiesand on} due consrdertttion, we are of the^vier.l' that^againstthe impugned e-s:Lie notice dated O5.05.2022,^{petitionerhas got}

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{/8. ./ & S.N. ,/ W.P.No.25333 of 2022

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adequate and efficacious alternative remedy under Section 17 of the Securitisation and Reconstrr-rction of Finerncial Assets and Enforcement of Security Interest AcL, 2OO2 (br-icfl-r', thc 'SARFAtrSI Act' hereinafter). Therefore, it would bc just and proper if petitioner avails the aforesaid statLlton illternativc remed,v by filing securitisation application witl.rin a period of thirty (3O) days from today. Additionally, il the petitioner deposits 15% of the outstanding dues as mentioned above u'ithin the aforesaid period of thirty (30) days, responclent shall not to take further steps pursuant to the sale notice dated O5.O5.2O22 qua the schedule property at Sl.No.S.^{Hou'cver, if} there is any default on the part of the petitioner eithcr^{in filing} securitisation application or ln making the pavment as mentioned above, it would be open to the respondenl to^take necessary steps in accordance with law for realisation of^the outstanding dues.

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This disposes of the Writ Petition. Hou'e ver,^there shall be no order as to costs.

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UB,J&SN,J W.P.No.25333 of 2022

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q - As a seqr,rcl, miscellaneous applications pending, if

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anr', in this Writ Petitior.r, sha11 stand closed.

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SD/.G.SIREESHA ASSISTANT^REGISTRAR

,TRUE COPY'

. tl.

SECTION OFFICER

To 1. Tre Authorized^{ffficer, M/s. Canara Bank,(E-Svndiqulu} P^{J3i??lJ9:ll-us"} " cotony eran ch,7-lltq',St*"i rtfo a, N/aheshwari N Habsiguda' Hyderabad500007

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