VENKATALAKSHMAMMA SUBBAIAH SETTY EDUCATION AND CHARITABLE TRUST, SRI. JAGANNATHA SETTY AND SMT. J. YASHODAMMA Vs. M/S. CANARA BANK MAJESTIC BRANCH

JUDGEMENT

(1.) THE petitioner has sought for direction to the respondent -bank to reconsider the representation dated 19.4.2012 vide Annexure -P by extending time to pay the balance amount by six months instead of two months as has been granted by the Debt Recovery Tribunal, Bangalore in S.A. No. 219/2013 vide Annexure -R dated 10.4.2013. The petitioner has borrowed certain loan from the respondent -bank. Since the loan was not repaid, the proceedings are initiated under the provisions of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. After due procedure, the sale notice was issued. As a last chance, the Debt Recovery Tribunal passed the order on 10.4.2013 granting time to the petitioner to clear the entire dues within two months from that date. The petitioner did not comply with the said order. In the meanwhile, he approached this Court by filing this writ petition for the aforementioned reliefs.

(2.) IT is brought to the notice of the Court by the learned advocate for the respondent that the respondent -bank after waiting for two months from 10.4.2013 has auctioned the property as per law and sale is confirmed in favour of the successful bidder on 21.6.2013. Since the sale is confirmed, the prayer as sought for by the petitioner cannot be granted. Accordingly, the petition fails and the same stands dismissed. It is open for the petitioner to take such steps as are open to him in law if he so chooses.