ANU AKSHAYA TRADERS Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) The present Writ Petitions have been filed to quash the proceedings dated 23.04.2018 passed by the Debt Recovery Appellate Tribunal, Chennai in AIR [SA] No.205 of 2018.

(2.) The petitioner had preferred an application bearing S.A.No.36 of 2018 before the Debt Recovery Tribunal, Coimbatore (hereinafter referred to as DRT for brevity) under Section 17(1) of The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as SARFAESI Act for brevity), for declaration that the act of the first respondent, invoking the provisions of Section 13(4) of the SARFAESI Act is completely bad in law, malafide and cannot be resorted and to quash and set aside the Possession Notice dated 18.01.2018 and for consequential orders restraining the first respondent, from taking actual physical possession of the property more fully described in the said notice and other incidental reliefs.

(3.) During the pendency of the said application, the first respondent had issued another Notice dated 26.02.2018, for sale of the aforesaid property in auction on 31.02018 and in pursuance thereof, the petitioner had filed a petition bearing I.A.No.555 of 2018 for amending the relief, so as to include challenge to the said auction sale in that application. The DRT, Coimbatore, in the proceedings dated 20.02018, had permitted the aforesaid amendment, considering the fact that it would not in any way change the character of the proceedings.