SHYAM TRADING COMPANY Vs. M KRISHNA M RAMESHAM

JUDGEMENT

(1.) An auction sale of immovable property under the Andhra Pradesh Co-operative Societies Act, 1964 and the Rules framed thereunder is called in question.

(2.) By order dated 07.02.2005 in Writ Petition No. 1303 of 2005, a learned Judge reversed the Judgment of the Andhra Pradesh Cooperative Tribunal, Hyderabad and upheld the said auction sale. Hence, this appeal by the erstwhile owner of the property.

(3.) The appellant, a proprietary concern, suffered the Award dated 06.05.2000 in ARC No. 81/2000-OSD under Section 61 of the Andhra Pradesh Co-operative Societies Act, 1964 (hereinafter, 'the Act of 1964'), whereby it was directed to pay the Charminar Co-operative Urban Bank Limited, Hyderabad, the sixth respondent herein, a sum of Rs. 27,24,810/- with interest at 21% per annum within two weeks. In the event of default, the sixth respondent Bank was held entitled to recover the entire dues jointly and severally from the Proprietor, Shyam Prasad, and the guarantors, personally or from their properties, movable and/or immovable or both.