PROGRESSIVE AQUATECH ENTERPRISE Vs. DEBTS RECOVERY TRIBUNAL

JUDGEMENT

(1.) Heard Mr. N.Gangadhar, learned counsel for the petitioner, and Mr. Ravinutala Venkata Subba Rao, learned counsel for respondents No.2 and 3.

(2.) By filing this petition under Article 226 of the Constitution of India, petitioner seeks quashing of docket order dtd. 12/10/2021, passed by the Debts Recovery Tribunal-II, Hyderabad (for short 'the Tribunal') in S.A.I.R.No.356 of 2021 and further seeks a direction to the Tribunal for refund of court fee of Rs.1.00 lakh paid by the petitioner.

(3.) Be it stated, that against the sale notice dtd. 12/3/2021, issued by respondents No.2 and 3 i.e., Indian Bank for auction sale of the secured asset on 16/4/2021, petitioner No.1 filed Securitisation Application before the Tribunal under Sec. 17 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short 'the SARFAESI Act'), which was numbered as S.A.I.R.No.356 of 2021. Along with the Securitisation Application, petitioner paid court fee of Rs.1.00 lakh.