M/S Bhagavan Venkayyaswamy Small Scale Industries v. State Bank Of India

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. 38519 of 2015 ORDER: (per Hon'ble Sri Justice Sanjay Kumar) This writ petition was filed assailing the auction notice dated 13.10.2015 whereby the State Bank of India, the respondent herein, proposed to put to sale the secured assets on 28.11.2015. By order dated 27.11.2015, this Court permitted the respondent Bank to proceed with the auction but in the event the petitioner paid a sum of Rs.10,00,000/- within two weeks from that date, the Bank was directed not to issue a sale certificate in favour of the third party - auction purchaser.

It is now stated by Sri Maruthi Jadav, learned counsel representing Sri B.S. Prasad, learned standing counsel for the State Bank of India, that the petitioner failed to comply with the aforestated conditional order and the respondent Bank issued a registered sale certificate in favour of the successful bidder in the auction. He would further state that the possession of the secured assets was also handed over to the said bidder. That being so, the cause in this writ petition is rendered purely academic and does not merit consideration.

The Writ Petition is accordingly dismissed. Pending miscellaneous petitions, if any, shall also stand dismissed. No order as to costs. ____________________________ JUSTI CE SANJAY KUMAR Date: 22.06.2017 ___________________________________ JUSTI CE GUDI SEVA SHYAM PRASAD va