M/S. Pvk Engineers Pvt Ltd v. The State Bank Of India

HON'BLE SRI JUSTICE V. RAMASUBRAMANIAN AND HON'BLE SRI JUSTICE P.KESHAVA RAO WRIT PETITION No. 41388 of 2018 ORDER: (per V. Ramasubramanian, J) The petitioner has come up with the above Writ Petition challenging an interim conditional order passed by the Debts Recovery Tribunal in an appeal under Section 17 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, 'the Act').

On 16.11.2018, this Court granted a small reprieve to the petitioner. The order, dated 16.11.2018, reads as follows: "Mr. M. Srikanth Reddy, learned Standing Counsel, takes notice for the respondent.

By the impugned order, the petitioner is obliged to pay 15% of the amount within a week. The time would expire on 19.11.2018. Since one week time is very short, the petitioner is granted time till 03.12.2018 for making payment of at least 10% of the amount, failing which the order of the Debts Recovery Tribunal will stand confirmed. Post on 03.12.2018."

3. Today, it is stated without any dispute that the conditional order passed on 16.11.2018 was not complied with. As a consequence, the Debts Recovery Tribunal's order stood restored.

VRS,J & PKR,J W.P. No.41388 of 2018

4. Pursuant to the same, the bank appears to have issued a sale certificate. Therefore, the petitioner does not deserve any indulgence.

5. Hence, the Writ Petition is dismissed. However, there shall be no order as to costs.

As a sequel, miscellaneous petitions, if any, pending in the Writ Petition stand dismissed.

__________________________ V. RAMASUBRAMANIAN, J _________________________ P. KESHAVA RAO, J January 22, 2019 gkv/Mgr

VRS,J & PKR,J W.P. No.41388 of 2018 HON'BLE SRI JUSTICE V. RAMASUBRAMANIAN AND HON'BLE SRI JUSTICE P.KESHAVA RAO WRIT PETITION No. 41388 of 2018 Date: 22.01.2019 Mgr/gkv