RAMESH RANGANATHAN, K.VIJAYA LAKSHMI
Kwality Agro Products, rep. by its Proprietor K. Srinivasa Rao – Appellant
Versus
Canara Bank, rep. by its Branch Manager/Authorized Officer – Respondent
KONGARA VIJAYA LAKSHMI, J.
1. W.P.No.44694 of 2017 is filed by the borrower, to declare the e-auction sale conducted on 17.11.2017, by the 1st respondent bank, confirming the same in favour of the 2nd respondent and handing over the possession of the property upon payment of 25% of the bid amount, as illegal, arbitrary and violative of provisions of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short ‘SARFAESI Act’) and Security Interest (Enforcement) Rules,2002 (for short ‘Rules’), made there under.
2. W.P.No.44967 of 2017 is filed by the guarantor, to declare the action of the 1st respondent bank in selling away the properties, without giving any notice and without following due process of law, as illegal and arbitrary.
3. WP No.44964 of 2017: Brief facts of the case, according to the petitioner, are that the petitioner firm obtained loan from the 1st respondent bank in the year 2012 to run the business of poultry farm with a capacity of 3.00 lakh eggs per day; it has been repaying the installments regularly without fail up to February, 2014; due to hailstorm on 04.03.2014, the unit was severely damaged and almost al
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