MARUTHI COTTON MILLS PRIVATE LIMITED Vs. CANARA BANK

JUDGEMENT

(1.) Challenging the Sale Notice, dtd. 18/11/2021, published in Hindu English Newspaper on 21/11/2021 without taking recourse to Rule 8 of Security Interest (Enforcement) Rules, 2002, ['Rules 2002'], the present Writ Petition is filed.

(2.) The facts, which lead to filing of the present petition, are as under:

(3.) On the other hand, Sri. Bachina Hanumantha Rao, Counsel appearing for the Respondent Bank, opposed the same. He would submit that the Writ Petition is not maintainable since the successful bidders are not made parties. He further submits that already the plant and machinery are sold and, as such, the proper remedy for the Petitioners would have been to approach the Debts Recovery Tribunal, once again.