M/S.Sita Trading v. Corporation Bank

HONOURABLE SRI JUSTICE SANJAY KUMAR AND HONOURABLE SRI JUSTICE P.KESHAVA RAO WRIT PETITION No.5846 of 2019 ORDER: (per Hon'ble Sri Justice Sanjay Kumar) This Writ Petition was filed assailing the docket order dated 12.3.2019 passed by the Debts Recovery Tribunal-II, Hyderabad (for short 'the Tribunal'), in I.A.No.1179 of 2019 in Securitization Application No.491 of 2018. The petitioner herein, being the applicant in S.A.No.491 of 2018, filed the said I.A. seeking stay of all further proceedings pursuant to the sale notice dated 18.02.2019 issued by Corporation Bank proposing to hold the auction of the secured assets on 12.3.2019.

2.

It is now brought to our notice that the auction sale did not materialise on 12.3.2019 for want of bidders. As the impugned docket order dated 12.3.2019 was passed by the Tribunal only in the context of the said I.A. and as the I.A. itself is rendered infructuous owing to the failure of the proposed sale, we find no grounds to entertain and adjudicate this Writ Petition on merits. 3.

The Writ Petition is accordingly dismissed leaving it open to the petitioner to pursue the pending Securitization Application in accordance with law.

Pending Miscellaneous Petitions, if any, shall also stand dismissed. No order as to costs.

________________________ JUSTICE SANJAY KUMAR ________________________ JUSTICE P.KESHAVA RAO 16th July, 2019 dr