M/S. Ananya Enterprises v. The Punjab National Bank Samd Branch

HONOURABLE SRI JUSTICE SANJAY KUMAR AND HONOURABLE SRI JUSTICE K. LAKSHMAN WRIT PETITION No.19447 OF 2019 ORDER: (Per Honourable Sri Justice Sanjay Kumar) Challenge in this writ petition was to the auction sale notice dated 06.08.2019 issued by the Punjab National Bank, Hyderabad, proposing to hold the auction sale of the secured asset on 13.09.2019.

2. By order dated 06.09.2019 passed in I.A. No.1 of 2019, this Court granted interim stay of all further proceedings pursuant to the impugned auction sale notice on the ground that the mandatory thirty

(30) day period required by Rule 8(6) of the Security Interest (Enforcement) Rules, 2002, was not maintained.

3. We are now informed by Sri Manohar Reddy Nandyala, learned counsel for the respondent bank, that the impugned auction sale notice has been withdrawn by the bank itself. In that view of the matter, the cause in this writ petition no longer survives for consideration on merits. The Writ Petition is accordingly dismissed. Pending miscellaneous petitions, if any, shall also stand dismissed. No order as to costs.

___________________ SANJAY KUMAR, J ___________________ K. LAKSHMAN, J October 1, 2019.

PV / KTL