Mrs. Kandregula Sarojini, v. Debts Recovery Tribunal,

THE HON'BLE SRI JUSTI CE SANJAY KUMAR AND THE HON'BLE SRI JUSTI CE GUDI SEVA SHYAM PRASAD WRI T PETI TI ON No. 5932 of 2016 ORDER: (per Hon'ble Sri Justice Sanjay Kumar) This writ petition was filed assailing the action of the Bank of India in not considering the petitioners' representation dated 05.02.2016. This representation was made in the context of the e-auction sale notice dated 27.01.2016 issued by the Bank of India proposing to hold the sale of the secured asset on 29.02.2016.

The grievance of the petitioners was that the reserve price for the secured asset was shown as Rs.41,97,000/- whereas the property, according to them, would be of the value of Rs.90,24,000/-. Smt. T. Vidya Rani, learned counsel for the Bank of India, would however inform this Court that the auction sale held on 29.02.2016 did not materialise in an actual sale for want of bidders. That being so, the grievance of the petitioners with regard to the reserve price mentioned in the said sale notice stands settled. In the event the petitioners have any grievance with regard to any fresh sale notice issued by the Bank, it would be open to them to avail appropriate remedies in accordance with law.

Leaving it open to the petitioners to do so, the writ petition is dismissed. Pending Miscellaneous Petitions shall also stand dismissed. No order as to costs.

____________________________ JUSTI CE SANJAY KUMAR Date: 29.06.2017 _________________________________ JUSTI CE GUDI SEVA SHYAM PRASAD va