K.V.Ramana Rao, v. The State Bank Of Mysore,

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.14543 of 2016 ORDER: (per SK,J) This writ petition was filed assailing the possession notice dated 09.03.2016 issued by the State Bank of Mysore under Rule 8(1) of the Security Interest (Enforcement) Rules, 2002.

By order dated 27.04.2015, this Court took note of the submission made by the learned counsel for the petitioner that the entire amount claimed by the respondent bank would be paid by the petitioner in three equal instalments and accordingly granted stay of the auction proposed to be held on 27.05.2016, subject to the petitioner paying the first instalment of one-third of the total amount claimed by the bank within two weeks from that day. Thereafter, the petitioner was required to deposit another one-third of the total amount due within four weeks and the last one-third within a further period of four weeks. Sri Harsha Vardhan Goud, learned counsel representing Sri Nageshwar Rao Pujari, learned counsel for the petitioner, would fairly concede that the petitioner failed to comply with the aforestated conditional order.

Smt.V.Dyumani, learned counsel representing Sri M.Venkata Diwakar, learned counsel for the respondent bank, would state that pursuant to the liberty granted by this Court, the sale was held successfully and after registration of the sale certificate, possession of the secured asset was also delivered to the auction purchaser.

In the light of the aforestated developments, the cause in this writ petition no longer survives for consideration on merits as the petitioner failed to live up to the promise made by him. The writ petition is dismissed on this short ground. 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:06.07.2017 GJ