Ravishankar .R v. The Authorized Officer

O R D E R

(Order of the Court was made by R.SUBRAMANIAN, J.) The 6th sale notice is under challenge.

¶2The petitioner has been given a very long rope. However, Mr.AN.Ramanathan, learned counsel for the petitioner would submit that a final chance may be given.

¶3The learned counsel for the bank is also not averse to the idea since 5 attempts for sale have failed.

¶4Therefore, considering the submission of the learned counsel for the petitioner, the bank is permitted to go ahead with the sale but shall not confirm the same, if the petitioner pays Rs.25,00,000/- on or before 30th March, 2023. The remaining amount shall be paid in 5 equated monthly installments. The charges of the auction along with the interest that accrues in the interregnum shall be paid along with last installment. If the petitioner fails to pay the installments, the bank will proceed to confirm the sale.

5.The writ petition is disposed of with the above observation. No costs. Consequently, connected miscellaneous petitions are closed. [R.S.M.,J.] & [L.V.G.,J.]

20.03.2023 Index:Yes/No Internet:Yes/No am

R.SUBRAMANIAN, J. AND

L.VICTORIA GOWRI, J. am 0RDER MADE IN

20.03.2023

BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT DATED: 20.03.2023 CORAM: THE HON'BLE MR.JUSTICE R.SUBRAMANIAN AND THE HON'BLE MRS JUSTICE L.VICTORIA GOWRI and W.M.P(MD)No.5404 & 5405 of 2023 R.Ravishankar :Petitioner .vs. The Authorized Officer, Union Bank of India, Asset Recovery Branch, No.9, Elcanso Complex, Casa Major Road, Egmore, Chennai-600 008. : Respondent PRAYER: Writ Petition filed under Article 226 of the Constitution of India, praying this Court to issue a Writ of Certiorari, calling for the records pertaining to the impugned E-auction Sale Notice in proceeding ARB:750/2022-23 dated 02.03.2023 issued by the respondent and quash the same as illegal. For Petitioner :Mr.AN.Ramanathan For Respondent :Mr.V.S.Karthi