SURYA TRANSPORTS Vs. CHIEF MANAGER-IN-CHARGE DEPARTMENT OF BANKING REGULATION RESERVE BANK OF INDIA; AUTHORIZED OFFICER, LAKSHMI VILAS BANK LIMITED

JUDGEMENT

(1.) Borrower, issued with a notice, dated 18.04.2012, under Section 13(2) of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, demanding to pay a sum of Rs.28,37,853.46, failing which, possession was directed to be surrendered, is stated to have filed SA.SR.No.1326 of 2012 before the Debt Recovery Tribunal, Madurai, with delay.

(2.) According to the petitioner, Lakshmi Vilas Bank Limited, Madurai / respondent No.2, took time to file counter. Thereafter, respondent No.2, has published a sale-cum-auction notice, dated 20.01.2016, proposing to conduct a Tender-cum-auction, on 02.03.2016. Coming to know of the sale notice, the borrower / petitioner has filed I.A.No.318 of 2016 in SA.SR.No.1326 of 2012, seeking for an amendment, by inserting the subsequent auction notice, dated 20.01.2016. I.A.No.319 of 2016, has also been filed seeking to stay all the proceedings pursuant to the sale notice, dated 20.01.2016, issued by the respondent Bank, for the proposed auction- cum- sale, scheduled on 02.03.2016.

(3.) The petitioner has further contended that though the learned counsel has approached the Presiding Officer as well as the Registry and mentioned the urgency ,his case has was not taken up and posted for hearing for the past four weeks,. The petitioner has further contended that the appeal has not been taken up for hearing. Contending inter alia that pending appeal, the subject property is sought to be sold by way of tender-cum-auction, on 02.03.2016, he has sought for a Writ of Mandamus, forbearing the Authorized Officer, Lakshmi Vilas Bank Limited, Madurai / Respondent No.2, not to proceed with the sale notice dated 20.01.2016, in respect of a house property, situated in Door No.49, Deivasigamanipuram, Ward No.6, Dindigul Town.