MURUGAN AUTOMOBILES Vs. INDIAN BANK

JUDGEMENT

(1.) SEEKING a writ of certiorarified mandamus, the petitioner has brought forth this writ petition to quash the respondent bank's notice of Intending Sale dated 20. 7. 2006, and quash the entire proceedings pursuant to the said notice and further direct the respondent Bank to accept the outstanding amount of Rs. 2,20,000/- agreed by them under One Time Settlement Scheme.

(2.) THE affidavit in support of the petition is perused. THE Court heard the learned Counsel on either side.

(3.) THE learned Counsel for the respondent would submit that in the instant case, pursuant to the preliminary decree passed, a notice was issued under Sec. 13 (2) of the Act; that following the same, the property was brought for sale; that as per the said notice, the property was actually sold; that it has been purchased by the third party; that the sale proceeds have been given credit to towards the liability of the petitioner; that under the circumstances, if the petitioner is really aggrieved, he has got an appeal remedy under the provisions of the Act; that he can make an appeal before the D. R.T. ; that instead, he has brought forth this petition before this Court, and hence, it has got to be dismissed.