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R. SUBRAMANIAN, L. VICTORIA GOWRI
Raju – Appellant
Versus
Authorized Officer Tamilnad Mercantile Bank (TMB) Padandhalmood Branch Kanyakumari – Respondent
JUDGMENT
(Prayer: Petition filed under Article 226 of the Constitution of India, to issue a writ of certiorari calling for the entire record pertaining to the impugned sale auction notice dated 24.02.2023 and scheduled conduct sale auction on 29.03.2023 at 11.00 a.m., and quash the same as illegal.)
R. Subramanian, J.
1. Mr.N.Dilip Kumar, learned Standing Counsel, takes notice for the respondent – Bank.
2. The borrower has come up with this writ petition challenging the auction sale notice, dated 24.02.2023, issued by the respondent – Bank.
3. Learned counsel for the petitioner would submit that the petitioner would be able to close all the loan accounts, if he is granted sometime.
4. Learned Standing Counsel appearing for the respondent – Bank would submit that since the petitioner''s loan accounts have been classified as “fraud accounts”, as the money that was borrowed as overdraft for business purpose was diverted for other purpose, the respondent – Bank has initiated action against the Branch Manager for disbursal of the loans. Therefore, according to the learned Standing Counsel, the petitioner is not entitled to any indulgence.
5. The Bank has every right to take action against its
The court's intervention due to the absence of a Judicial Member in the Debts Recovery Tribunal and the grant of interim protection to the petitioner based on specific payment conditions.
Writ petition under Article 226 not maintainable against SARFAESI sale notice due to alternate remedy under Section 17 before DRT.
Acknowledgment of statutory remedy under Section 17 of SARFAESI Act, 2002, and providing relief to the petitioner by staying the sale of the secured asset until the petitioner filed a securitization ....
The court balanced the petitioner's rights under the SARFAESI Act with the practical issue of the unavailability of the Presiding Officer in the Debts Recovery Tribunal, leading to a temporary allowa....
Invoking jurisdiction under Article 226 of the Constitution of India in the circumstances of a pending SARFAESI Application before the Debts Recovery Tribunal would amount to an abuse of process of c....
though existence of an alternative remedy is not an absolute bar to the maintainability of a writ petition under Article 226 of the Constitution, but a writ petition can be entertained in exceptional....
Though existence of an alternative remedy is not an absolute bar to the maintainability of a writ petition under Article 226 of the Constitution, but a writ petition can be entertained in exceptional....
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