BODEPUDI NARENDRA Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) Heard Mr. M.V.Pratap Kumar, learned counsel for the petitioner, and Mr. Maruthi Jadhav, learned counsel for the respondent/Bank.

(2.) Petitioner is aggrieved in a limited manner with docket order dated 21.10.2021, passed by the Presiding Officer, Debts Recovery Tribunal-I at Hyderabad (for short 'the Tribunal ') in S.A.No.100 of 2021.

(3.) S.A.No.100 of 2021 has been preferred by the petitioner before the Tribunal against an E-Auction sale notice issued by the respondent/State Bank of India. Petitioner filed an Interlocutory Application in S.A.No.100 of 2021 seeking stay of auction sale, scheduled on 25.10.2021, which was registered as I.A.No.900 of 2021. The Interlocutory Application was partly allowed, on 21.10.2021, with the direction that while respondent/Bank may go ahead with the auction of the schedule property of the petitioner, the sale in favour of the highest bidder should not be confirmed. However, this was made subject to the condition that the petitioner shall deposit Rs.60 lakhs in two instalments; first instalment of Rs.30 lakhs within a week and second instalment of balance Rs.30 lakhs within two weeks thereafter to the credit of the loan account maintained with the respondent/Bank. It was clarified that in the event of failure to comply with the above direction, the conditional stay would automatically stand vacated.