S.SUBRAMANIAN Vs. GENERAL MANAGER; REGIONAL MANAGER

JUDGEMENT

(1.) Heard Mr. Gowthaman Sankaran, Learned Counsel appearing for the Petitioner and Mr. A. Arunbabu, Learned Counsel appearing for the Respondents and perused the materials placed on record, apart from the pleadings of the parties.

(2.) The Petitioner had availed various credit facilities from the Third Respondent and the details of the same have been set out in the following self-explanatory tabular statement:-

(3.) When the matter came up for hearing on 05.09.2019, Learned Counsel for the Petitioner sought for interim injunction of auction of the pledged jewels in respect of Jewel Loan - I that had been fixed on 07.09.2019. In response to the specific query then raised by this Court as to whether the petitioner is willing to remit the dues under that jewel loan without prejudice to his contentions in the Writ Petition, Learned Counsel for the Petitioner submitted that the Petitioner is not in a position to make such payment. In view of the same, it was ordered that the auction may proceed but custody of the pledged jewels shall not be parted to the purchaser until further orders. However, it has been informed on the subsequent hearing that as there were no bidders, the auction had not proceeded as scheduled on that day.