M/S Vijayalakshmi Agencies, v. Canara Bank,

HON'BLE SRI JUSTICE R.SUBHASH REDDY AND HON'BLE SRI JUSTICE A.SHANKAR NARAYANA WRIT PETITION No.21760 of 2015 ORDER : (per Hon'ble Sri Justice R.Subhash Reddy) The petitioner has filed the writ petition challenging EAuction Sale Notice dated 10.6.2015 issued by the respondent-Bank for sale of the secured assets under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.

2. While issuing notice before admission, this Court, by order dated 15.7.2015, directed the respondent-Bank not to confirm the sale in favour of the third party-purchaser, on condition of the petitioner depositing Rs.50,00,000/- within two weeks from the said date.

3. When the matter is called for hearing, it is represented by both the learned counsel that pursuant to the said directions, the petitioner has not deposited the aforesaid amount and further auction was not held on 16.7.2015 for want of bidders.

4. In view of the said submission, as no auction was held on 16.7.2015, pursuant to the E-Auction Sale Notice dated 10.6.2015, the cause in the writ petition does not survive for adjudication and the writ petition has become infructuous.

5.

Accordingly, this writ petition is dismissed as infructuous. Interim order granted by this Court on 15.7.2015 is vacated. As a sequel, miscellaneous petitions pending, if any, shall stand closed. No order as to costs.

____________________________ JUSTICE R. SUBHASH REDDY ________________________________ JUSTICE A.SHANKAR NARAYANA 17.08.2015.

Msr HON'BLE SRI JUSTICE R.SUBHASH REDDY AND HON'BLE SRI JUSTICE A.SHANKAR NARAYANA WRIT PETITION No.21760 of 2015

17.08.2015 Msr