Bodepudi Narendra vs State Bank Of India

Heard Mr. M.V.Pratap Kumar, learned counsel for the petitioner, and Mr. Maruthi Jadhav, learned counsel for the respondent/Bank.

Petitioner is aggrieved in a limited manner with docket order dated 21.10.2021, passed by the Presiding Officer, Debts Recovery Tribunal-I at Hyderabad (for short 'the Tribunal') in S.A.No.100 of 2021.

S.A.No.100 of 2021 has been preferred by the petitioner before the Tribunal against an E-Auction sale notice issued by the respondent/State Bank of India. Petitioner filed an Interlocutory Application in S.A.No.100 of 2021 seeking stay of auction sale, scheduled on 25.10.2021, which was registered as I.A.No.900 of 2021. The Interlocutory Application was partly allowed, on 21.10.2021, with the direction that while respondent/Bank may go ahead with the auction of the schedule property of the petitioner, the sale in favour of the highest bidder should not be confirmed. However, this was made subject to the condition that the petitioner shall deposit Rs.60 lakhs in two instalments; first instalment of Rs.30 lakhs within a week and second instalment of balance Rs.30 lakhs within two weeks thereafter to the credit of the loan account maintained with the respondent/Bank. It was clarified that in the event of failure to comply with the above direction, the conditional stay would automatically stand vacated.

Relevant portion of the order dated 21.10.2021, reads as under:

"The issues raised by the petitioner would be dealt in the course of main SA. However, this Tribunal is not inclined to interfere with the sale proceedings initiated by the Respondent Bank against the petition schedule property under the Auction Sale Notice dated 30.09.2021. Accordingly, the Respondent Bank may go ahead with the auction of the petition schedule property as scheduled on 25.10.2021 but not to confirm the sale in favour of the highest bidder in the auction sale of the petition schedule property in pursuance of the Auction Sale notice dated 30.09.2021 subject to the Petitioner depositing Rs.60 lakhs in two instalments - first instalment of Rs.30.00 lakhs is directed to be deposited within one week i.e., by 28.10.2021 and second instalment of Rs.30.00 lakhs to be deposited within two weeks thereafter to the credit of loan account directly with the Respondent Bank. In the event of failure of compliance of any of the above conditions by the Petitioner, the interim stay shall stand vacated and the Respondent Bank shall be at liberty to confirm the sale in favour of the highest bidder in accordance with law and the said sale shall be subject to the result of the SA."

Learned counsel for the petitioner, though has appreciated the indulgence granted by the Tribunal, however, submits that petitioner is an agriculturist and is presently going through hard times. He, therefore, prays for some additional time to make payment of the two instalments.

Learned counsel for the respondent/Bank submits that the Tribunal may be directed to expedite the hearing of S.A.No.100 of 2021.

Upon hearing learned counsel for the parties and on due consideration, we are of the view that it would meet the ends of justice, if some further time is granted to the petitioner to make the payments in terms of the order dated 21.10.2021.

Accordingly, we direct that the first instalment of Rs.30 lakhs be paid directly to the credit of loan account with the respondent/Bank within a period of four weeks from today. After deposit of the first instalment as above, the balance amount of Rs.30 lakhs be deposited within two weeks thereafter. Order dated 21.10.2021, in I.A.No.900 of 2021 in S.A.No.100 of 2021 stands modified accordingly. However, we request the Tribunal to take up S.A.No.100 of 2021 for an expeditious hearing and disposal.

With the above directions, the Writ Petition is disposed of. Miscellaneous Petitions, pending if any, stand disposed of.

No costs.