THE HON'BLE MR. JUSTICE HULUVADI G. RAMESH AND THE HON'BLE MR. JUSTICE A.D. JAGADISH CHANDIRA W.P. No.5989 of 2017 & W.M.P. Nos.6420 & 6421 of 2017 Coronet Labs Pvt. Ltd. having its Registered Office at No.145, Sydenhams Road Periamet, Chennai 600 003 presently at:
19/39, Woothukattan Street, II Floor Periamet, Chennai 600 003 represented by its Director/Authorised Signatory Sivakumar B. Petitioner vs.
1 The Chief Manager / Authorised Officer Allahabad Bank ARM Branch No.112, Sir Thyagaraya Road T. Nagar, Chennai 600 017
2 Allahabad Bank represented by its Chief Manager George Town Branch No.47, Armenian Street, Chennai 600 001
3 Shivalik Remedies Pvt. Ltd. represented by its Managing Director Khasra No.509/1-2 & 520 Village: Bhagwanpur Mus Roorkee – Dehradun Road Bhagwanapur Roorkee 247 667, Uttarakhand Respondents Writ Petition filed under Article 226 of the Constitution of India seeking a writ of certiorarified mandamus calling for the records culminated in the e auction sale in Ref.BR/ARMB/SR/EAUCTION2016- 17/139 on 27.12.2016 issued by the first respondent in favour of the third respondent and quash the same and consequently, direct the respondent bank to grant OTS proposal submitted by the petitioner vide letter dated 19.12.2016.
For petitioner Mr. R. Prabhakaran For RR 1 & 2 Mr. M. Devaraj ORDER (Judgment of the Court was delivered by HULUVADI G. RAMESH, J.) This writ petition has been preferred challenging the communication dated 27.12.2016 issued by the first respondent to the third respondent, whereby and whereunder, the third respondent has been declared as the successful bidder and has been directed to deposit the balance bid amount and for a direction to the respondent bank to accept the OTS proposal submitted by the petitioner vide letter dated 19.12.2016.
2 Heard the learned counsel for the petitioner and the learned counsel for respondents 1 and 2 / bank.
3 From a perusal of the records, it is seen that when this matter was taken up for admission on 15.03.2017, notice and private notice were ordered while granting an order of interim stay and on two subsequent occasions, viz., on 12.04.2017 and 27.04.2017, the order of interim stay was extended, perhaps, on the impression that still the matter was subsisting then.
4 However, now, it is reported that the property in question has been sold in Court auction and even possession has been handed over to the auction purchaser.
In view of the aforesaid subsequent development and also given the fact that the order impugned in this writ petition is the subject matter of challenge in the SARFAESI Appeal as well, which is pending before the Debts Recovery Tribunal-II, Chennai, this writ petition is dismissed granting liberty to the petitioner to pursue the said appeal pending before the Debts Recovery Tribunal-II, Chennai. Costs made easy. Connected W.M.Ps. are closed.
cad To (H.G.R., J.) (A.D.J.C., J.) 30.06.2017
1 The Chief Manager / Authorised Officer Allahabad Bank ARM Branch No.112, Sir Thyagaraya Road T. Nagar, Chennai 600 017
2 The Chief Manager Allahabad Bank George Town Branch No.47, Armenian Street Chennai 600 001 HULUVADI G. RAMESH, J.
and A.D. JAGADISH CHANDIRA, J.
cad W.P. No.5989 of 2017 30.06.2017