Sathya v. The Authorized Officer

BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT DATED: 28.04.2025

CORAM:

THE HON'BLE MRS JUSTICE J. NISHA BANU AND THE HON'BLE MRS JUSTICE S.SRIMATHY and W.M.P.(MD)Nos.8817 and 8818 of 2025 Sathya

...Petitioner

-Vs1.The Authorized Officer, M/s.Equitas Small Finance Bank Limited, No.769, 4th Floor, Phase-II, Spencer Plaza, Mount Road, Anna Salai, Chennai.

2.The Authorized Officer, M/s.Equitas Small Finance Bank Limited, Meenampatti Branch Office, Sivakasi, Virudhunagar District-626 189.

...Respondents

PRAYER:Writ Petition is filed under Article 226 of the Constitution of India praying for the issuance of a Writ of Mandamus, to call for the entire records in pursuance to the sale notice No.SN/JK/131/SESIKSIO372762/Mar 25, dated 17.03.2025 on the file of the second respondent and quash the same as unconstitutional.

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For Petitioner : Mr.J.Sivaram

ORDER

(Order of the Court was made by S.SRIMATHY, J.) This writ petition is filed challenging the sale notice issued by the respondent Bank.

2.The petitioner and her husband availed credit facility from the second respondent Bank to the tune of Rs.4,50,000/-. Due to default, the respondent Bank initiated SARFAESI proceedings. Thereafter, the property of the petitioner was brought for auction and sale notice was also issued. Challenging the same, the present writ petition is filed.

3.This Court during the earlier date of hearing has directed the petitioner to pay a sum of Rs.2,50,000/- to the respondent bank to show her bona fide.

4.Today, when the matter is taken up for hearing, the learned counsel for the petitioner submits that she has complied with the order of this Court and has also produced a copy of the demand draft drawn in favour of the respondent Bank.

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5.It is seen from the sale notice issued by the respondent Bank, the total outstanding due as on 14.03.2025 is Rs.8,10,463/-. The petitioner has now paid a sum of Rs.2,50,000/- towards her loan amount. The petitioner is directed to pay the remaining outstanding amount of Rs.5,60,463/- in six monthly equal installments commencing from June, 2025. The monthly installment shall be paid on or before 6th day of every succeeding English calender month. The petitioner is also at liberty to negotiate with the respondent Bank with regard to the interest portion.

6.With the above direction, this writ petition is disposed of. No costs. Consequently, connected miscellaneous petitions are closed. (J.N.B.,J.) (S.S.Y.,J.) 28.04.2025 Index:Yes/No Internet : Yes/No ta To 1.The Authorized Officer, M/s.Equitas Small Finance Bank Limited, No.769, 4th Floor, Phase-II, Spencer Plaza, Mount Road, Anna Salai, Chennai.

2.The Authorized Officer, M/s.Equitas Small Finance Bank Limited, Meenampatti Branch Office, Sivakasi, Virudhunagar District-626 189.

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J. NISHA BANU,J.

and S.SRIMATHY.J ta 28.04.2025 4/4