K.R.Pugalenthi v. Punjab National Bank
BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT DATED : 04.04.2025
CORAM:
THE HONOURABLE MRS.JUSTICE J.NISHA BANU AND THE HONOURABLE MRS.JUSTICE S.SRIMATHY W.P.(MD)No.9452 of 2025 and W.M.P.(MD)No.7068 of 2025 K.R.Pugalenthi ... Petitioner -Vs1.Punjab National Bank, Rep. by its Authorized Officer, Circle Sastra, PNB House, Trichy-Tanjore Road, Kailasapuram, Trichy-620 014.
2.The Manager, Punjab National Bank, Devakottai Branch, Thiyagigal Road, Devakottai-630302.
... Respondents PRAYER: Petition filed under Article 226 of the Constitution of India, to issue a Writ of Certiorari, to call for the records pertaining to the impugned sale notice issued by the 1st respondent dated 19.03.2025 and quash the same as illegal, arbitrary and non-application of mind.
For Petitioner : Mr.P.Saravanakumar For Respondents : Mr.C.Deepak, Standing Counsel
ORDER
[Order of the Court was made by S.SRIMATHY, J.] Challenging the sale notice dated 19.03.2025 issued by the 1st respondent, this Writ Petition is filed.
2.According to the petitioner, he availed a sum of Rs.61 lakhs from the respondent Bank. Since he was not able to repay the same, the respondent Bank initiated SARFAESI proceedings and issued sale notice. Subsequent to the sale notice, the petitioner has paid some considerable amount. 3.Even though the learned Standing Counsel appearing for the respondents admitted the same, he would submit that final amount has not yet been quantified. Therefore, without mentioning the quantified amount, we direct the petitioner to pay balance amount with interest in two equal monthly instalments. The first instalment shall be paid on or before 10.05.2025 and the second instalment shall be paid on or before 10.06.2025.
4.With this direction, this Writ Petition is disposed of. No costs. Consequently, connected miscellaneous petition is closed. [J.N.B., J.] & [S.S.Y., J.] 04.04.2025 NCC : Yes / No Index : Yes / No Yuva
J.NISHA BANU, J.
AND S.SRIMATHY , J.
Yuva W.P.(MD)No.9452 of 2025 04.04.2025