HON’BLE SRI JUSTICE ASHUTOSH MOHUNTA AND HON’BLE SRI JUSTICE M. SATYANARAYANA MURTHY WRIT PETITION No. 14991 of 2014 Dated: 03.06.2014 Between:
M. Dayanand Reddy …..Petitioner And State Bank of India, Rep. by its Authorized Officer and another.
....Respondents The Court made the following :
HON’BLE SRI JUSTICE ASHUTOSH MOHUNTA AND HON’BLE SRI JUSTICE M. SATYANARAYANA MURTHY WRIT PETITION No. 14991 of 2014 ORDER : (per Hon'ble Sri Justice Ashutosh Mohunta) This writ petition is filed under Article 226 of the Constitution of India to declare the action of the 1st respondent in issuing Auction Notice dated 26.04.2014 noticed on 22.05.2014 proposing to auction the property of the petitioner bearing Flat No.501, 5th Floor, MBR Residency in the premises bearing Municipal No.3-4- 484/3, 3-4-484/4, 3-4-484/5 situated at Lingampally, Narayanguda, Hyderabad under the provisions of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interests Act, 2002 (for short, ‘SARFAESI Act’) as illegal.
2. Learned counsel for the petitioner submits that the property of the petitioner is proposed to be auctioned on 03.06.2014 i.e., today.
3. After going through the material papers filed in the writ petition, we are of the considered opinion that an alternative statutory remedy of appeal is available to the petitioner under Section 17(1) of the SARFAESI Act, therefore, this writ petition is not maintainable. However, the sale, which is scheduled to be held on 03.06.2014 ie., today may go on, but confirmation of the same shall remain stayed for a period of three weeks from today.
4. The Writ Petition is disposed of, accordingly. There shall be no order as to costs.
5. Miscellaneous Petitions, if any, pending in this Writ Petition shall stand dismissed.
ASHUTOSH MOHUNTA, J M. SATYANARAYANA MURTHY, J 3rd June 2014. mar