M/S.Cauvery Oils And Foods v. The Authorized Officer
BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT DATED : 25.10.2024 CORAM :
THE HONOURABLE MR.JUSTICE R.SUBRAMANIAN and THE HONOURABLE MRS.JUSTICE L.VICTORIA GOWRI and W.M.P.(MD)No.21839 of 2024 M/s.Cauvery Oils and Foods, Prop. A.Sundaram, No.32, 3rd Main Road, Renga Nagar, K.K. Nagar, Trichy District.
... Petitioner vs.
The Authorized Officer, Rep. by its Chief Manager, Bank of Baroda, Salai Road Branch, Trichy District.
... Respondent Prayer : Petition filed under Article 226 of the Constitution of India, to issue a Writ of Certiorari, calling for the sale notice dated 07.10.2024, issued by the respondent bank and quash the same.
For Petitioner : Mr.K.Sathish For Respondent : Mr.Madhan Alexander Page No.1 of 4
ORDER
(Order of the Court was made by R.SUBRAMANIAN, J.) A sale notice was issued by the Bank on 22.12.2023, which was made subject matter of challenge in a Securitization Application in S.A.No.51 of 2024 before the Debts Recovery Tribunal. A conditional order was passed by the Debts Recovery Tribunal, requiring the petitioner to pay three installments of Rs.12,47,000/- each, commencing from 01.03.2024.
2. It is stated that all the three installments that were directed to be paid on 01.03.2024. 02.04.2024 and 02.05.2024, have been paid. Since the sale did not fructify, the Securitization Application in S.A.No.51 of 2024 was closed as infructuous. A second sale notice was issued with reference to another property belonging to the debtor on 04.06.2024. This was challenged in S.A.No.467 of 2024. The Debts Recovery Tribunal passed a conditional order, directing the petitioner to pay three installments of Rs.6,40,500/- each on 23.08.2024, 23.09.2024 and 23.10.2024. Admittedly, the said amount has not been paid as per the directions of the Debts Recovery Tribunal.
3. It is further stated that an application for extension of time was filed and the time for payment was extended up to 17.09.2024 by order dated Page No.2 of 4
27.08.2024. Even by the extended time, the first installment was not paid. Therefore, the Bank had issued a third sale notice on 07.10.2024 with reference to the property that is covered by the first sale notice, dated 22.12.2023.
4. The learned counsel appearing for the petitioner would take exception to the third sale notice on the ground that the third sale notice has been issued in respect of the property covered by the notice, which is subject matter of challenge in S.A.No.51 of 2024 and the petitioner having complied with the conditional order made in S.A.No.51 of 2024, the Bank cannot bring that property for sale.
5. We are unable to agree with the said contention. We also find that the petitioner has already approached the Debts Recovery Tribunal and obtained favourable orders to enable him to liquidate the debt. Hence, this Writ Petition is dismissed, leaving it open to the petitioner to approach the Debts Recovery Tribunal. No costs. Consequently, connected Miscellaneous Petition is closed. (R.S.M, J.) (L.V.G, J.) 25.10.2024 Index : No : No smn2 Page No.3 of 4
R.SUBRAMANIAN, J.
and L.VICTORIA GOWRI, J.
smn2 ORDER MADE IN DATED : 25.10.2024 Page No.4 of 4