K R CHANDRAMOHAN Vs. DEBT RECOVERY TRIBUNAL

JUDGEMENT

(1.) THIS is the fourth attempt by an unsuccessful petitioner/appellant to challenge the action under the Securitisation and Reconstruction of financial Assets and Enforcement of Security Interest Act, 2002 (for short 'sarfaesi Act' ). The appellant was due to the third respondent Bank to the tune of Rupees 16 lakhs and odd and in this regard when action was initiated, he challenged it in W. P. (C) Nos. 7040 of 2008, 16249 of 2008 and 22934 of 2008 and in other proceedings practically to stall the proceedings under the SARFESI Act and has failed. Even in W. P. (C) No. 22934 of 2008, while confirming the initiation of proceedings under the SARFESI Act, this Court had shown leniency to the petitioner/appellant by directing him to pay one-third of the amount due, before the date of sale, i. e. on 10. 8. 2008, and the balance to be paid in two instalments. It was made clear in the said judgment that if there is failure on the part of the petitioner/appellant to pay the amount, it will be open to the respondents to continue the sale proceedings already initiated. Without taking the concession given by this Court, the petitioner/appellant has again approached this Court by the impugned writ petition, and noticing all these facts, the learned Single Judge, in our view, was justified in rejecting the writ petition.

(2.) MOREOVER, we are informed by the learned counsel for the Bank that in pursuance of the proceedings initiated, sale has taken place and as long back as in November, 2008 the sale has been confirmed and the third party has also been put in possession. It is to be noted that without impleading the auction purchaser, once again a futile exercise has been made by the petitioner/appellant under the guise of seeking a direction to the Debts Recovery Tribunal to consider his application. We do not think that it is open for the appellant to pursue such a remedy when all the doors are closed after giving him an appropriate opportunity. Hence, we find no merit in the writ appeal and accordingly it is dismissed.