M/S. Hotel Surya v. The Authorized Officer

O R D E R [Order of the Court was made by R.SUBRAMANIAN, J.] In view of the fact that the Debts Recovery Tribunal, Madurai, is not manned, we are entertaining this writ petition.

¶2Mr.R.Pandivel, learned counsel, takes notice for the respondent – Bank.

¶3With the consent of both sides, this writ petition is taken up for final hearing at the admission stage itself.

¶4The sale notice, dated 06.04.2023, issued by the respondent – Bank, under Rule 8(6) of the Security Interest (Enforcement) Rules, 2002, is under challenge in this writ petition.

¶5Considering the fact that the sale is scheduled to be held on

11.05.2023 and the petitioner offers to liquidate the entire debt, if sometime is granted to him, the writ petition is disposed of with the following directions:

(i) The respondent – Bank shall not proceed with the sale, if the petitioner pays a sum of Rs.2,40,308/- (Rupees Two Lakhs Forty Thousand only) to the respondent – Bank, on or before 10.05.2023.

(ii) The remaining amount of Rs.12,00,000/- (Rupees Twelve Lakhs only) shall be paid by the petitioner in four equated monthly installments commencing from 10th June, 2023. The monthly installments shall be paid on or before 30th of every succeeding month.

(iii) The interest that accrues in the interregnum and the cost of the sale shall be paid along with the last installment.

(iv) If there is a default in payment as directed above, the respondent – Bank can proceed with the sale. No costs. Consequently, connected miscellaneous petition is closed.

[R.S.M., J.] [L.V.G., J.]

27.04.2023 NCC : No Index : No Internet : Yes

PKN oR.SUBRAMANIANoo,oJo. AND oL.VICTORIAoGOWRIoo,oJo. PKN W.P.(MD)oNo.10505oofo2023

27.04.2023

BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT DATED : 27.04.2023 CORAM: THE HONOURABLE MR.JUSTICE R.SUBRAMANIAN AND THE HONOURABLE MRS.JUSTICE L.VICTORIA GOWRI and W.M.P (MD) No.9334 of 2023 M/s.Hotel Surya Proprietor Mr.K.Sivakumar ... Petitioner -vs- The Authorised Officer, Union Bank of India, 100A Ground Floor, Naveen Plaza, Salai Road, Woraiyur, Trichy District – 620 003. ... Respondent PRAYER: Petition filed under Article 226 of the Constitution of India, to issue a Writ of Certiorari, calling for the records pertaining to the impugned notice issued by the respondent vide his proceedings Nil dated 06.04.2023 and to quash the same as illegal. For Petitioner : Mr.H.Mohammed Imran for M/s.Ajmal Associates For Respondent : Mr.R.Pandivel