M/S.Galaxy Polymers v. The Authorised Officer

BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT DATED : 01.09.2023 CORAM :

THE HONOURABLE MR.SANJAY V.GANGAPURWALA, CHIEF JUSTICE and THE HONOURABLE MR.JUSTICE C.KUMARAPPAN and W.M.P(MD)Nos.11317 and 11319 of 2022

1. M/s.Galaxy Polymers, No.86-1, PPV Nandavanam Street, Virudhunagar-626 001.

2. B.Janagarajan ... Petitioners vs.

The Authorized Officer, Indian Bank, 122 A, Madurai Road, Virudhunagar.

... Respondent Prayer : Petition filed under Article 226 of the Constitution of India, for issuance of a Writ of Certiorari, calling for the records pertaining to the impugned notice dated 13.7.2022 issued by the respondent bank and quash the same as illegal. For Petitioners : Mr.I.Suthakaran For Respondent : Mr.R.Pandivel

O R D E R

[Order of the Court was made by The Hon'ble CHIEF JUSTICE] We have heard Mr.I.Suthakaran, learned counsel appearing for the petitioner and Mr.R.Pandivel, learned counsel appearing for the respondent Bank.

2.

Under order dated 20.07.2022, this Court has passed the conditional interim order, directing the petitioners to pay a sum of Rs. 3,50,000/- on or before 16.08.2022, a further sum of Rs.3,50,000/- on or before 16.09.2022 and a further sum of Rs.3,50,000/- on or before 18.10.2022. The Court further observed that in case of failure of payment of any one of the instalments, the stay granted by the Court shall stand automatically vacated.

3.

Learned counsel for the petitioner and the respondent are ad idem submit that the petitioner has not deposited the amount as directed by this Court.

4.

Learned counsel for the respondent Bank further submits that as the stay stood automatically vacated upon non compliance of the conditions, the Bank has sold the property and sale certificate is also registered.

5.

In the light of that, the Writ Petition is disposed of. No costs. W.M.P(MD)No.11317 of 2022, filed to permit the petitioners to file a single writ petition is allowed and disposed of, as they have paid separate sets of court fee. W.M.P(MD)No.11319 of 2022 is closed. [S.V.G., C.J.] [C.K., J.] 01.09.2023 Index : Yes / No bala

THE HONOURABLE CHIEF JUSTICE and C.KUMARAPPAN, J.

bala 01.09.2023