Marg Ltd v. The Authorized Officer

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 28.07.2023 CORAM :

THE HON'BLE MR.SANJAY V.GANGAPURWALA, CHIEF JUSTICE AND THE HON'BLE MR.JUSTICE P.D.AUDIKESAVALU and W.M.P. Nos. 15657 and 15658 of 2023 Marg Ltd.

Represented by its Authorised Signatory Mr.K.S.Gajendra Babu having its Registered office at Sri Sai Subhodaya Apartments .. Petitioner -vs1. The Authorized Officer Pegasus Asset Reconstruction Company Pvt. Ltd. Having its Registered office at No.55-56, 5th Floor, Free Press House Nariman Point, Mumbai - 400 021.

Having Branch Office at No.1-C, First Floor, H.M.H.Plaza New No.56(O) 105, G.N.Chetty Road T.Nagar, Chennai - 600017.

2. State Bank of Mauritius Limited Prince Arcade, 4th Floor 22-A, Cathedral Road Chennai - 600086.

3. M/s.Energy Bramma Housing Private Limited Represented by its Director Old No.126/5, New No.8/5 East Vanniar Street, K.K.Nagar West Virugambakkam, Chennai - 600078.

4. M/s.Shubham Vihar (P) Ltd.

Represented by its Director Having its Registered Office at Sri Sai Subhodaya Apartment ..

Respondents Prayer: Petition filed under Article 226 of the Constitution of India for issuance of a Writ of Certiorari, to call for the records of the first respondent relating to the Sale Certificate dated 14.03.2023 executed by the first respondent in favour of the third respondent pertaining to the punjai land situated at Anumanthai Village, Tindivanam Taluk, Villupuram District admeasuring 8.87 acres owned by Shubham Vihar (P) Ltd. comprised in New S.No.337/1, Old S.No.342/1 measuring 1 Acre and 46 cents out of 2 Acres and 93 cents, land comprised in New No.337/2, Old No.342/2 measuring 96 cents, lands comprised in New S.No.337/3, Old No.342/2 measuring 45 cents, lands comprised in New S.No.337/4, Old S.No.342/2(2 Acres and 73 cents) in all measuring a total extent of 8.87 Acres and quash the same as illegal.

For the Petitioner :

Mr.R.Rajakumaran For the Respondents :

Mr.Omprakash, Senior Counsel for Mr.Imayavaramban M/s.Ramalingam Associates(R1) R2 - Not ready in notice Mr.B.M.Premkumar (R3)

ORDER

(Order of the Court was made by The Hon'ble Chief Justice) We have heard Mr.R.Rajakumaran, learned counsel for the petitioner; Mr.Omprakash, learned Senior Counsel for the first respondent and Mr.B.M.Premkumar, learned counsel for the third respondent.

2.

It is said that the petitioner had challenged the auction sale notice by filing Securitization Application No. 97 of 2023 before the Debts Recovery Tribunal-II, Chennai and subsequently, the sale was conducted on 24.02.2023 and the sale is also challenged by filing S.A. No. 204 of 2023 before the Debts Recovery Tribunal-II, Chennai.

3. According to the learned counsel for the petitioner, as it is a case of an inherent defect, the present writ petition is filed. We fail to understand as to how parallel proceedings can be resorted to. The petitioner already filed Securitization Application challenging the sale before the DRT and the present writ petition subsequent to that is not maintainable.

4. The petitioner may take steps before the DRT as may be permissible under law.

In that event, all contentions are kept open.

5. The writ petition is, accordingly, disposed of. No costs. Consequently, W.M.P. Nos. 15657 and 15658 of 2023 are closed. (S.V.G., CJ.) (P.D.A., J.) 28.07.2023 Index : yes/no : Yes/No Maya

To:

1. The Authorized Officer Pegasus Asset Reconstruction Company Pvt. Ltd. Having its Registered office at No.55-56, 5th Floor, Free Press House Nariman Point, Mumbai - 400 021.

Having Branch Office at No.1-C, First Floor, H.M.H.Plaza New No.56(O) 105, G.N.Chetty Road T.Nagar, Chennai - 600017.

2. State Bank of Mauritius Limited Prince Arcade, 4th Floor 22-A, Cathedral Road Chennai - 600086.

3. M/s.Energy Bramma Housing Private Limited Represented by its Director Old No.126/5, New No.8/5 East Vanniar Street, K.K.Nagar West Virugambakkam, Chennai - 600078.

4. M/s.Shubham Vihar (P) Ltd.

Represented by its Director Having its Registered Office at Sri Sai Subhodaya Apartment

THE HON'BLE CHIEF JUSTICE AND P.D.AUDIKESAVALU, J.

(Maya) 28.07.2023