K. GOPALKRISHNA, S/O. LATE P.R. VENKATARAMANAYYA Vs. ING VYSYA BANK LIMITED AND SMT. G.K. SULOCHANA SINCE DISEASED REP.BY L. RS. (MRS. MAMATHA CHIRUVELLA, D/O. K. GOPALKRISHNA, MR. ADARSH, S/O. K. GOPALKRISHNA AND VISHWAS G.K., S/O.. K. GOPALKRI

JUDGEMENT

(1.) ADMITTEDLY , Petitioner had filed S.A. No. 677/2009 before the Debt Recovery Tribunal (for short, hereinafter referred to as 'the Tribunal'), Bangalore, challenging the action of the Respondent -bank in issuing possession notice under Section 13(4) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, hereinafter referred to as 'the Act'). On 17.03.2010, an order came to be passed by the Tribunal directing the bank to release the documents to the Petitioner on payment of (Rs. ).8 lakhs along with interest with effect from 21.01.2009 till the date of payment by raising loan or by sale of the property by the Petitioner herein directly to any party who provides such loan. It is his submission that this order came to be challenged by the bank before the Appellate Tribunal in Appeal No. 600/2010 and the matter is pending. It is also asserted by the Petitioner that a sum of Rs. .28 lakhs has been already paid.

(2.) THE grievance of the Petitioner is that during the pendency of the appeal before the Appellate Tribunal the Bank has proceeded to sell the property on 21.01.2011. It is in this background that the Petitioner has approached this Court to set aside the sale conducted on 21.01.2010 and all consequential proceedings that may be initiated in this regard.