C.Kalaichelvan v. The Authorised Officer
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 21.12.2023 CORAM :
THE HON'BLE MR.SANJAY V.GANGAPURWALA, CHIEF JUSTICE AND THE HON'BLE MR.JUSTICE D.BHARATHA CHAKRAVARTHY C.Kalaichelvan .. Petitioner vs 1.The Authorized Officer, Encore Asset Reconstruction Company Private Limited, No.101, Executive Zone, Shakthi Tower, Ground Floor, No.766, Anna Salai, Chennai-600 002.
2.The Encore Asset Reconstruction Company Private Limited, Corporate Office, 5th Floor, Plot No.137, Sector-44, Gurugram-122 022, Haryana, India.
3.The Encore Asset Reconstruction Company Private Limited, Caddle Commercial Tower, Regus Business Centre, 5th Floor, Aerocity (Dia), New Delhi - 110 037.
.. Respondents
Prayer : Petition filed under Article 226 of the Constitution of India seeking issuance of a writ of mandamus directing the respondents to consider petitioner representation dated 13.2.2023 to issue fresh sale certificate or revalidate the sale certificate dated 14.4.2021 executed by the third respondent in favour of the petitioner. For the Petitioner : Mr.Kamalanathan for Mr.R.Manibarathi For the Respondents : Mr.Sathiyanarayanan Srinivasan
ORDER
(Order of the court was made by the Hon'ble Chief Justice) We have heard Mr.Kamalanathan, learned counsel for Mr.R.Manibarathi, learned counsel for the petitioner and Mr.Sathiyanarayanan Srinivasan, learned counsel for the respondents.
2. Prayer is made to issue fresh sale certificate or revalidate the sale certificate dated 14.4.2021 executed by the third respondent in favour of the petitioner.
3. It appears that, pursuant to the auction conducted under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, the petitioner was declared as a successful bidder. The petitioner has paid the entire sale consideration on 7.4.2021.
4. According to learned counsel for the respondents, the physical possession is delivered on 1.6.2022. Learned counsel for the respondents submits that some proceedings are taken up by the borrower and pending before the Debts Recovery Tribunal by way of Securitisation Application.
5. The respondents would be justified if there are prohibitory orders passed by the Debts Recovery Tribunal in the pending Securitisation Application. In case there is no prohibitory order passed by the Debts Recovery Tribunal or any other forum, the respondents shall revalidate the sale certificate dated 14.4.2021 executed by the third respondent in favour of the petitioner within a period of six weeks from today.
6. With these observations, the writ petition is disposed of. There shall be no order as to costs.
(S.V.G., CJ.) (D.B.C., J.) 21.12.2023 Index :
Yes/No :
Yes/No bbr
THE HON'BLE CHIEF JUSTICE AND D.BHARATHA CHAKRAVARTHY,J.
bbr 21.12.2023