M/S. Aradhana Traders v. Union Of India

THE HON'BLE SRI JUSTICE SANJAY KUMAR AND THE HON'BLE Dr. JUSTICE B. SIVA SANKARA RAO WRIT PETITION No.36856 of 2015 ORDER: (per Hon'ble Sri Justice Sanjay Kumar) Sri Sricharan Telaprolu, learned counsel for the petitioners, states that the sale notice dated 15.09.2015 did not materialise in any sale owing to lack of bidders. He further states that a subsequent sale notice has been issued by the respondent bank and that the petitioners may be given liberty to challenge the same along with earlier proceedings initiated by the respondent bank under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.

The writ petition is accordingly dismissed leaving it open to the petitioners to pursue their remedies in accordance with law be it against the subsequent sale notice or the earlier proceedings initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. All issues are left open.

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

__________________ SANJAY KUMAR, J ___________________________ Dr. B. SIVA SANKARA RAO, J Date:14.06.2016 GJ