M/S.Transco Technologies v. The Authorised Officer

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 08.06.2026 CORAM :

THE HONOURABLE MR. SUSHRUT ARVIND DHARMADHIKARI, CHIEF JUSTICE AND THE HONOURABLE MR.JUSTICE G.ARUL MURUGAN W.P.Nos.17109 & 17128 of 2026 & W.M.P.Nos.18394, 18396, 18405, 18414, 18416 & 18419 of 2026

1. M/s.Transco Technologies Represented by its Managing Partner, Subheesh P.C.,S.F.No.3/172-1, Kaduvettipalayam, Karumathampatti, Coimbatore- 641 659.

2. Subheesh P.C., S/o.Balan K.M Managing Partner M/s.Transco Technologies, Parapurath Chalil, Vattoli Bazar, Balussery, Kozhikode Kerala- 673 612.

3. Somsundaram M S/o.Meiyappan Partner M/s.Transco Technologies Site No.24, Kumudham Nagar, VK Road, Coimbatore- 641 035.

4. Survarna R.M C/o.Ranjany T Partner M/s.Transco Technologies Parayil House, Landmark Ladies GYM, Calicut- 673 016.

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Petitioner

Vs.

The Authorised Officer Bank of Baroda, Regional Stressed Assets, Recovery Branch (ROSARB), 2nd Floor, 82, Bank Road, Coimbatore- 641 018.

..

Respondent Prayer : Petition filed under Article 226 of the Constitution of India seeking (i) a writ of Ceritorarified Mandamus calling for the records of the Respondent relating to the impugned Notice dated 26.02.2026 relating to Notice of Sale of immovable property to borrower under rules 8(5) and 9(1) of the Security Interest (Enforcement) Rules, 2002 and quash the same as being arbitrary and without jurisdiction and quash all further and consequential proceeding arising therefrom, including the e-auction conduced on 16.03.2026 and any steps taken pursuant thereto and further direct the Respondent Bank to appropriate the amounts realised strictly towards the cash credit facility (A/c. NO. 59500500002475) for which alone the subject property was mortgaged under Memorandum of Deposit of Title deeds dated 25.07.

2023; and (ii) a writ of Ceritorarified Mandamus to call for the records of the Respondent in the impugned Communication dated 06.04.2026 bearing reference number BOB.ROSARB.NPA.RECY:2026-27 and quash the same insofar as it demands a Sum of Rs.6,16,777/- pursuant to the illegal appropriation of the sale proceeds of the secured asset towards a non-secured Loan and consequently direct the respondent to appropriate the sale proceeds strictly towards the cash credit facility for which alone the subject property was mortgaged, and consequently direct the respondent to refund the excess amount to the petitioners.

For Petitioners :

Mr.Pawan Jhabakh For Respondent :

M/s.Revathi Manivannan Standing Counsel

ORDER

(Order of the Court was made by the Hon'ble Chief Justice) Learned counsel for petitioner seeks to withdraw these petitions with liberty to avail appropriate remedy.

2. With the aforesaid liberty, these petitions are dismissed as withdrawn. There shall be no order as to costs. W.M.P.Nos.18394 and 18414 of 2026 filed seeking to permit petitioners to join together and file a single writ petition are ordered subject to payment of separate court fee. The other interim applications are dismissed as withdrawn.

(SUSHRUT ARVIND DHARMADHIKARI,CJ) (G.ARUL MURUGAN,J) 08.06.2026 kpl

To The Authorised Officer Bank of Baroda, Regional Stressed Assets, Recovery Branch (ROSARB), 2nd Floor, 82, Bank Road, Coimbatore- 641 018.

THE HON'BLE CHIEF JUSTICE AND G.ARUL MURUGAN,J.

(kpl) 08.06.2026