Sri. Raguri Srinivas, v. The State Bank Of Hyderabad,

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.2910 of 2016 ORDER: (Per Justice Sanjay Kumar) This writ petition was filed assailing the action of the State Bank of Hyderabad in issuing e-auction sale notice dated 01.01.2016 proposing to put to sale the secured asset belonging to the petitioner on 03.02.2016. By order dated 01.02.2016, this Court directed the State Bank of Hyderabad not to issue the sale certificate to the intending purchaser subject to the petitioner depositing a sum of Rs.10,00,000/- in two installments, the first installment of Rs.5,00,000/- being payable on or before 02.02.2016 and the second installment of Rs.5,00,000/- being payable within four weeks thereafter. The bank was given liberty to take further steps in accordance with law without reference to the pendency of this writ petition in the event the petitioner committed default in payment of the first installment.

Sri Harsha Vardhan Goud, learned counsel representing Sri Nageshwar Rao Pujari, learned counsel for the petitioner, would fairly inform this Court that the petitioner failed to pay the first installment itself.

That being so, the protection afforded to the petitioner under the interim order stood dissolved and by virtue of the liberty granted to the bank to proceed further, the cause in this writ petition no longer survives for consideration.

The writ petition is accordingly dismissed.

Interim order dated 01.02.2016 shall stand vacated. Pending miscellaneous petitions, if any, shall also stand dismissed. No order as to costs.

_____________________ SANJAY KUMAR, J ________________________ GUDI SEVA SHYAM PRASAD, J 10th July, 2017 IBL