M/S. Asm Impex Private Limited, v. Authorized Officer Under Section 13

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.15489 of 2016 ORDER: (per SK,J) This writ petition was filed assailing the e-auction sale notice dated 29.03.2016 issued by the State Bank of Hyderabad proposing to put the secured assets belonging to the petitioners to sale on 04.05.2016. By order dated 29.04.2016, this Court permitted the bank to proceed with the auction but directed it not to confirm the sale subject to the petitioners' depositing a sum of Rs.50.00 lakhs with the bank within a time frame. In the event of default, the bank was permitted to confirm the auction sale.

Sri Srikanth Hariharan, learned counsel for the petitioners, would fairly concede that the aforestated conditional order was not complied with by the petitioners.

It is however brought to our notice by Sri K.Rama Krishna, learned counsel representing Sri E.Madan Mohan Rao, learned counsel for the State Bank of Hyderabad, that the auction scheduled to be held on 04.05.2016 did not materialise for want of bidders. That being so, challenge to the auction sale notice dated 29.03.2016 is rendered purely academic and does not warrant consideration on merits.

The writ petition is accordingly dismissed on this short ground leaving all issues open. It shall be open to the petitioners to avail appropriate remedies in accordance with law as and when a fresh cause of action arises.

Pending miscellaneous petitions, if any, shall also stand dismissed. No order as to costs.

____________________ JUSTI CE SANJAY KUMAR _____________________________ JUSTI CE GUDI SEVA SHYAM PRASAD Date:13.07.2017 GJ