R.SUBHASH REDDY, A.SHANKAR NARAYANA
Knovus Steels and Infrastructure Limited – Appellant
Versus
State Bank of India – Respondent
R. Subhash Reddy, J.—As the subject matter in these two writ petitions is common and parties are same, both these writ petitions are heard together and are being disposed of by this common order. For the purpose of disposal, we refer to the facts and parties as stated and arrayed in W.P.No.16998 of 2015.
2. The writ petition in W.P.No.16998 of 2015 is filed seeking a Writ of Mandamus, to declare the action of 2nd respondent in conducting auction on 14.03.2015 with regard to landed property of the petitioner to an extent of Ac.40-20 gts. and in issuing sale certificate bearing No.SAMB/PRB/13, dated 04.04.2015, in favour of respondent No.3 in exercise of powers under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as the Securitisation Act), as illegal and arbitrary, mainly on the ground that the procedure adopted in conducting the auction is in contravention of Section 13 of the Securitisation Act and Rules 8 and 9 of the Security Interest (Enforcement) Rules, 2002.
3. Petitioner is a Company incorporated in 2007, under the Indian Companies Act, 1956. It is the case of petitioner that the o
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