M/S Knit N Craft v. Union Bank Of India And ANR

CWP-24245-2023 (O&M) 2023:PHHC:140836-DB 1

IN THE HIGH COURT OF PUNJAB AND HARYANA

AT CHANDIGARH (125) CWP-24245-2023 (O&M) Date of Decision: 06.11.2023 M/S Knit N Craft

...Petitioner

Versus

Union Bank of India and another

...Respondents

CORAM: HON'BLE MRS. JUSTICE LISA GILL HON'BLE MRS. JUSTICE RITU TAGORE

Present:

Mr. Gaurav Goel, Advocate for the petitioner.

Mr. C.K. Jha, Advocate for the respondent-Bank.

**** LISA GILL, J (ORAL) 1.

Prayer in this writ petition is for setting aside sale notice dated 07.10.2023 (Annexure P-8) under Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short 'SARFAESI Act') issued by the respondent-Bank. There is further prayer for stay of sale notice dated 07.10.2023 (Annexure P-8) and dispossession of petitioner from the secured asset/mortgaged property. 2.

Learned counsel for respondent-Bank on instructions from Mr. Prabhat Kumar, Chief Manager, Union Bank of India submits that this writ petition is rendered infructuous as auction pursuant to sale notice dated 07.10.2023 has failed there being no bidders for the property in question. Same is not denied.

MANPREET SINGH 2023.11.10 13:51 I attest to the accuracy and authenticity of this order/judgment

CWP-24245-2023 (O&M) 2023:PHHC:140836-DB 2 3.

Writ petition is accordingly disposed of as infructuous without expression of any opinion on merits of the matter or even its entertainability.

4.

Pending miscellaneous applications, if any, stand disposed of accordingly.

(LISA GILL) JUDGE (RITU TAGORE) JUDGE November 06, 2023 Manpreet Whether speaking/reasoned :

Yes/No Whether reportable :

Yes/No MANPREET SINGH 2023.11.10 13:51 I attest to the accuracy and authenticity of this order/judgment