Bank action
naresh chamarthy
(Querist) 17 April 2015
This query is : Resolved
respected sir.iam naresh from hyderabad.i purchased a indipendent house from bank.i paid all total money .they issues sale certificate also.but the defaulter apporched drt.drt given docket order.please advice me.how safe i'm.
docket order dt 08-01-2015.
This application is filed in -------------
for stay of all futher proceedings including the delivery of the physical possession of the sehedur property/confirmation of the e-action cum sale notice on the ground that the applicant thought obtained interim order in failed to comply the order as he could not mobilize the required amount to deposit as per the conditional order and as such the respondent bank proceededfuther andd issued the action sale notice and conducted the action of the sehedule property but without following the due process of law and as such the respondent bank canot proceed futher and hence for the grant of stay order.
but the respondent bank opposed the petition srongly by submiting throught their advocate while requesting time for filling of detail counter having filed of the material documents and contended that,it is the third round of litigation of the applicant and has no respect to the court of law and used to file number o appication for the grant of stay and later failed to comply with the conditional imposed at the time of granting the stay order since the purpose ever and similarly failed the present S.A
along with I.A seeking for the interim order.
admited the S.A filed by the applicant challenging the earlier sale notice was dismissed by the holding with the respondent bank has not commited any irregulatiesand since followed the procedure as mandated by rule 8(1)(2) and(6) of security act rules. in the said S.A the applicant obtained interim orders but on condition to deposit cretain amount.but the applicant fails to comply the same said interim orders and ultimately the said S.A was dissmissed on merlts.the applicant who failed to comply the same said orders,also filed W.Ps. before High court of judicature at Hyderabad and ultimately withdrawn the W.Ps. WHEN the respondent bank proceeded further by lssuing the E-auction sale notice dated:16.02.2015 fixing the auction of the schedule property dated:23.03.2015 and conducted the auction of the schedule property dated 23.03.2015 again the applicant filed the present S.A challenging the same said proceedings and wanted to take interim orders for the stay of futher proceedings in pursuance to the auction conducted on 23.03.2015 against the schedule property by questioning the procedure adopted by the respondent bank since not issued notice of 30 days for sale as required under rule 8 (6).but already the respondent bank issued the notice as under rule 8 (6) and was already challenged by the applicant by filling the and the said S.A was dismissed by upholding the procedure adopted by the respondent bank as correct and not found any deviations the respondent bank issued a fresh E-auction sale notice in pursuance tothe same said notice issued under rule 8 (6) and therefore it shall be deemed that the respondent bank rightly followed the procedure and there is no necessity to issue any fresh notic under rule 8 (6) in view of orders in S.A 605 of 2013. the respondent bank prima facie followed procedure as mandated by rule 8 (6) and 9 (1) and in such circumstances the respondent bank since already conducted auction of the schedule property it is also not prudent and safe to safe to stall the further proceedings including the confirmation of sale and issuing of sale certificate and if at all there are any lapses inadopting the procedure in issuing the sale certificate the same may be challenged in the main S.A and it subject to the result of the S.A therefore there is no necessity to grant any inerim stay of further proceedings to be initiated by the respondent bank in pursuance to the E-auction notice dated:16.02.2015 including the conducting of auction of the schedule property for counter and hearing call no 22.04.2015.
in case applicant ready to to pay total out standing amount at 22/04/2015.that about my sale certificate.bank is ready to do registation subject to S.A pending.
malipeddi jaggarao
(Expert) 17 April 2015
Docket order is in your favour. What advice you want? I am also in Hyderabad, if you are interested click the button "click to talk" for further clarifications.
Rajendra K Goyal
(Expert) 17 April 2015
Expert malipeddi jaggarao is ex banker and is in Hydrabad, may avail his services in case of need.
The orders are in your favor. No stay was granted.
malipeddi jaggarao
(Expert) 17 April 2015
Thanks Sri Rajendra Goyalji for your kind reference.
naresh chamarthy
(Querist) 17 April 2015
in case applicant ready to to pay total out standing amount at 22/04/2015.that about my sale certificate.bank is ready to do registation subject to S.A pending.
Dr J C Vashista
(Expert) 18 April 2015
Too long a story, be precise.
It would be better to consult a local lawyer on payment of professional fees.
T. Kalaiselvan, Advocate
(Expert) 24 April 2015
