M/S. Shirdi Sai Industries v. The Authorized Officer

BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT DATED : 22.06.2023

CORAM:

THE HON'BLE MR.SANJAY V. GANGAPURWALA, CHIEF JUSTICE and THE HON'BLE MR.JUSTICE R.SUBRAMANIAN W.P.(MD) No.11594 of 2023 and WMP(MD) Nos.10072 & 10073 of 2023 M/s.Shirdi Sai Industries rep. by through its Managing Partner B.Ramamoorthy ... Petitioner -vs1.The Authorized Officer, State Bank of India, SME Branch Thuvakudi Industrial Estate, Thiruchirappalli 620 015.

2.The Authorized Officer, State Bank of India, Stressed Assets Recovery Branch 8 Dr.Ambedkar Road Vinayaganagar Branch 1st Floor Madurai 625 020.

... Respondents

PRAYER: Petition filed under Article 226 of the Constitution of India, to issue a Writ of Certiorari to call for the records relating to the impugned possession notice dated 21.04.2023 and the consequent E-auction sale notice dated 21.04.2023 issued by the respondents Bank under SARFAESI Act r/w proviso to Rule 8(1) of the Security Interest (Enforcement) Rules, 2002 and quash the same. For Petitioner :

Mr.Joseph Thatheus Jerome For Respondent :

Mr.P.Pethu Rajesh

O R D E R

[Order of the Court was made by The Hon'ble The CHIEF JUSTICE] The petitioner is challenging the possession notice as well as the E-auction notice.

2. It is submitted that the petitioner has already filed Securitization Application challenging the earlier possession notice on the ground that the procedure under Section 13(3A) is not followed. Subsequently the respondent bank withdrew the possession notice and issued a fresh possession notice. The respondent bank issued possession notice as well as E-auction sale notice on the same day.

3. As the Securitization application is already pending before the Debts Recovery Tribunal, the petitioner may seek further reliefs before the Debts Recovery Tribunal. This Court had passed an interim order on 14.06.2023, which is operating till today.

4. As we are relegating the petitioner before the Debts Recovery Tribunal, we continue the interim order for a period of 15 days from today so as to enable the petitioner to file necessary application/amendment, which may be considered by the Debts Recovery Tribunal on its own merits.

5. With this observation, the writ petition stands disposed of. However, there is no order as to costs. Consequently connected Miscellaneous Petitions are closed.

[S.V.G., CJ.] [R.S.M, J.] 22.06.2023 Index :

Yes / No :

Yes / No RR

THE HON'BLE THE CHIEF JUSTICE and R.SUBRAMANIAN, J.

RR W.P.(MD)No.11594 of 2023 22.06.2023