M/S. Imax Mines And Minerals, # 03-5-704/501, Sarodaya v. M/S. Vljaya Bank, # 3/1/252/253, Near Manju Theatre,

HON'BLE SRI JUSTICE SANJAY KUMAR AND HON'BLE SRI JUSTICE T.AMARNATH GOUD WRIT PETITION No.40034 of 2017 ORDER: (per Hon'ble Sri Justice Sanjay Kumar) Challenge in this Writ Petition was to the order dated 23.11.2017 passed by the Debts Recovery Tribunal-II, Hyderabad, in I.A.No.3213 of 2017 in S.A.No.1443 of 2017 filed by the petitioners insofar as it granted interim stay of the auction proceedings scheduled to be held on 27.11.2017, pursuant to the e-auction sale notice dated 23.10.2017, subject to the condition that the petitioners deposit 30% of the total outstanding dues in equal instalments.

By order dated 27.11.2017, this Court granted interim stay of the auction sale scheduled to be held on that day. Sri M.Satyanarayana, learned counsel for the Vijaya Bank, first respondent, would inform this Court that pursuant to the aforestated interim order, no auction sale was conducted on 27.11.2017. In that view of the matter, challenge to the order of the Tribunal imposing conditions in relation to the said auction sale is rendered academic and does not warrant consideration on merits at this stage.

The Writ Petition is accordingly closed leaving it open to the petitioners to pursue the pending Securitization Application or invoke appropriate remedies in accordance with law before the proper forum if they are aggrieved by subsequent developments. Pending

SK, J & TA, J WP.No.40034 of 2017 Dated:12.07.2018 Miscellaneous Petitions, if any, shall also stand closed. No order as to costs.

____________________ JUSTICE SANJAY KUMAR ________________________ JUSTICE T.AMARNATH GOUD 12th July, 2018 DR