M/S.Vasavi Matha Food Industries v. The State Of Andhra Pradesh Rep.By Its Secretary,

HON'BLE SRI JUSTICE S.V.BHATT W.P. No.7253 OF 2015 ORDER:

Heard learned counsel for the petitioner and Sri Ambadipudi Satyanarayana.

The petitioner assails auction notice dated 12.03.2015, as illegal and arbitrary.

One of the objections against the impugned auction notice is that the respondents have already sold the property mortgaged by the petitioner, realized the debt due to the bank and the respondents are not justified in auctioning any property more particularly, property shown in the auction notice dated 12.03.2015. On instructions, the learned standing counsel submits that the respondent bank has given more than sufficient time to petitioner to remove and take away the movable property which is free from any charge, the petitioner since has not acted in the matter and removed the property, therefore, with a view to deliver vacant possession to the buyer of immovable properties, the impugned auction notice is issued by the bank.

Learned counsel further submits that to close the transaction without any problem, even now the bank is prepared to accommodate and give reasonable time to the petitioner to remove and take away the plant and machinery etc. shown in the auction notice.

The learned counsel for the petitioner requests four weeks from today to remove and take movable property available in the mortgaged building. The petitioner is given liberty to address a letter

to that effect to the respondent bank and respondent bank is directed to permit the petitioner to remove and take the properties to which it is entitled.

The writ petition is disposed of as indicated above. No order as to costs.

Miscellaneous petitions pending, if any, shall stand closed. _____________ S.V.BHATT,J Date:20.03.2015 Stp