HON’BLE SRI JUSTICE ASHUTOSH MOHUNTA AND HON’BLE SRI JUSTICE M. SATYANARAYANA MURTHY WRIT PETITION No. 11587 of 2014 Dated: 16.04.2014 Between:
Gopaluni Venkata Narsaiah Moudgalya …..Petitioner And Syndicate Bank, Rep. by Regional Manager, Vijayawada, Krishna District and six others.
....Respondents The Court made the following :
HON’BLE SRI JUSTICE ASHUTOSH MOHUNTA AND HON’BLE SRI JUSTICE M. SATYANARAYANA MURTHY WRIT PETITION No. 11587 of 2014 ORDER : (per Hon'ble Sri Justice Ashutosh Mohunta) The petitioner filed this writ petition challenging the order dated 02.04.2014 passed by the Debts Recovery Tribunal at Visakhapatnam (DRT) in dismissing I.A.No.231 of 2014 in S.A.No.83 of 2014.
2. Learned counsel for the petitioner submits that the petitioner’s father mortgaged his ancestral residential house as security with the respondent-Bank. He further submits that respondents 5 to 7 are also having equal share in the aforesaid residential house along with the petitioner and hence, the auction notice dated 26.02.2014 is illegal.
3. Learned counsel for the respondents submits that the petitioner has an effective alternative remedy of appeal against the order passed by the DRT.
4. After hearing the counsel for the parties, we are of the considered opinion that against the impugned order passed by the DRT, an appeal lies under Section 18 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interests Act, 2002 before the Debts Recovery Appellate Tribunal.
5. In view of the above, the writ petition is not maintainable and the petitioner can avail the remedy by filing an appeal before the Debts Recovery Appellate Tribunal, if he is so advised. The respondent-Bank is restrained from proceeding further for a period of three weeks from the date of receipt of a copy of this order.
6. With the above direction, the writ petition is disposed of. No order as to costs.
7. As a sequel, Miscellaneous Petitions, if any, pending in this writ petition shall stand closed.
ASHUTOSH MOHUNTA, J M. SATYANARAYANA MURTHY, J 16th April 2014. mar