M/S Sri Flan Uman Electricals v. Oriental Bank Of Commerce

THE HON'BLE SRI JUSTICE RAMESH RANGANATHAN AND THE HON'BLE SRI JUSTICE M. SATYANARAYANA MURTHY WRIT PETITION No.10215 OF 2015 ORDER: (per Hon'ble Sri Justice Ramesh Ranganathan) This Writ Petition is filed questioning the action of the respondent bank, in putting the subject property to sale without complying the requirements of Rule 8(6) of the SARFAESI Rules, 2002, on the ground that the notice issued thereunder does not mention the date and time of sale. This Court by order dated 10.04.2015, while expressing its disinclination to interdict the auction scheduled to be held on 11.04.2015, directed the respondents not to confirm the sale in favour of the highest bidder for a period of two weeks.

It is now represented both by Sri O. Manoher Reddy, Learned Counsel for the petitioner and Sri B.S. Prasad, Learned Counsel for the respondent bank, that there were no bidders for the subject property in the auction held on 11.04.2015; and, as such, the bank is required to issue a notice afresh inviting bids. As no auction was held on 11.04.2015, the cause in the Writ Petition does not survive. The Writ Petition has become infructuous and is, accordingly, dismissed. The miscellaneous petitions pending, if any, shall stand dismissed. No costs. _____________________________ RAMESH RANGANATHAN,J __________________________________ M. SATYANARAYANA MURTHY,J

Date: 20.04.2015 MRKR