Madhusudhan Rao Gonugunta v. State Bank Of India

THE HON'BLE SRI JUSTI CE SANJAY KUMAR AND THE HON'BLE SRI JUSTI CE P.KESHAVA RAO W.P.No.41228 OF 2018 ORDER:

(Per Sanjay Kumar, J) The grievance of the petitioner in this case was with regard to the auction proposed to be held by the ASREC India Limited, Mumbai, in relation to the secured asset owned by him notwithstanding the pendency of proceedings under the Insolvency and Bankruptcy Code, 2016. By order dated 22.11.2018, this Court permitted the auction to go on but directed that the confirmation thereof should await further orders. It is however brought to our notice that the auction which was held on 27.11.2018 failed for want of bidders. In that view of the matter, the Writ Petition is rendered purely academic and does not warrant adjudication on merits.

The Writ Petition is therefore dismissed on this short ground, leaving it open to the petitioner to raise all issues in an appropriate proceeding, if and when warranted.

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

----------------------- SANJAY KUMAR, J.

------------------------- P. KESHAVA RAO, J.

Date: 15th July, 2019.

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