1. S DILIP JAYA RAM The Court made the following order: (per Hon’ble Sri Justice R. Raghunandan Rao)

Heard Sri Ambadipudi Satyanarayana, learned Senior Counsel appearing for Mrs. CH. Lakshmi Chaya, learned counsel for the petitioners and Sri S. Dilip Jaya Ram, learned counsel appearing for the respondent.

2. The petitioners herein had initiated proceedings, against the respondent herein, under the SARFAESI Act . The respondent had approached the Debts Recovery Tribunal, Visakhapatnam against the said proceedings, by way of S.A.No.601 of 2024 (DRT, Visakhapatnam). The respondent also filed, I.A.No.3554 of 2024, in S.A.No.601 of 2024 for staying further proceedings under the SARFAESI Act . The Debts Recovery Tribunal, Visakhapatnam, by an order dated 07.02.2025, had stayed all further proceedings, under the SARFAESI Act , including the auction that was held on 21.11.2024, till disposal of Securitization Appeal. Aggrieved by this order, the petitioner has approached this Court.

3. In the present case, sale notice dated 21.09.2024, had been issued, fixing the date of auction as 21.11.2024. In the auction conducted on that day, one item of schedule property mentioned in the schedule of