Madras High CourtWP/47/2024disposed of

Snv Textiles Mills v. The Reserve Bank Of India

2024-01-09Honourable The Chief Justice,Honourable Mr Justice D.Bharatha Chakravarthy4 pages

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 09.01.2024

CORAM

THE HON'BLE MR.SANJAY V.GANGAPURWALA, CHIEF JUSTICE AND THE HON'BLE MR.JUSTICE D.BHARATHA CHAKRAVARTHY WMP No.33 of 2024 SNV Textiles Mills, A Partnership Firm, Rep. by its Partner, Mr.V.Kannapiran, 1501, Chennakarai, Karattu Palayam Post, Vellakovil 638 111.

.. Petitioner -vs1. The Reserve Bank of India, Fort Glacis, 16, Rajaji Road, Fort St. George, Chennai, Tamil Nadu 600 001.

2. The Karur Vysya Bank Ltd., Tirupur Main Branch, Rep. by its Authorised Officer, 315, Kumaran Road, Tiruppur 641 601.

.. Respondents Prayer: Petition filed under Article 226 of the Constitution of India for issuance of a Writ of Certiorarified Mandamus to call for the records relating to Sale Notice dated 24.11.2023 issued by the 2nd respondent fixing the E-Auction Sale on 03.01.2024 and to quash the same and consequently direct the 2nd respondent to consider the petitioner's representation dated 26.12.2023 seeking for extension of time until 25.01.2024 for the payment of OTS amount of Rs.7,65,00,000/-.

For the Petitioner :

Mr.R.Abdul Mubeen for Mr.N.Krishnappan For the Respondents :

Mr.Arun Babu for R-2 * * * * *

ORDER

(Made by the Hon'ble Chief Justice) We have heard Mr.R.Abdul Mubeen, learned counsel for the petitioner and Mr.Arun Babu, learned counsel for respondent No.2.

2. The learned counsel for the petitioner submits that within 15 days, the petitioner would endeavour to settle the account with the bank.

3. The learned counsel for the bank, on instructions, submits that on the scheduled date, no bids were received, as such, the sale could not take place.

4. In view of the fact that no auction sale took place on the scheduled date, the challenge to the sale notice is rendered redundant. The writ petition as such is disposed of. There shall be no order as to costs. Consequently, connected miscellaneous petition is closed. (S.V.G., CJ.) (D.B.C., J.) 09.01.2024 Index : Yes/No : Yes/No sra To

1. The Reserve Bank of India, Fort Glacis, 16, Rajaji Road, Fort St. George, Chennai, Tamil Nadu 600 001.

2. The Authorised Officer, Karur Vysya Bank Ltd., Tirupur Main Branch, 315, Kumaran Road, Tiruppur 641 601.

THE HON'BLE CHIEF JUSTICE AND D.BHARATHA CHAKRAVARTHY, J.

(sra) 09.01.2024