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Judgment
Supplementary affidavit filed today be taken on record.
Heard learned Counsel for the parties.
By means of the present writ petition, the Petitioner seeks a writ, order or direction in the nature of certiorari for quashing the sale notice dated 20.8.2011 published by the Respondent No. 1 filed as Annexure No. 14 in so far as it relates to the Petitioner as also a writ of mandamus directing the Respondent Bank not to open the bid on 21.9.2011 in pursuance of the sale notice dated 20.8.2011 published by him and another consequential relief.
It appears that the Petitioner has taken a loan from PNB Housing Finance Ltd. Respondent No. 1. He defaulted in payment of the amount of loan instalments whereupon the Respondent No. 1 recalled the entire loan and proceeded to recover the amount through sale of the security furnished by him by taking recourse to the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. The proceedings were initiated sometimes in the year 2007. The Petitioner approached this Court by means of Writ Petition No. 44482 of 2007 which was dismissed by this Court with certain observations vide judgment and order dated 14.9.2007. However, this Court left it open to the Petitioner to file objection to the notice and thereafter approach the Tribunal u/s 17 of the aforementioned Act. The Petitioner once again approached this Court by means of Writ Petition No. 22255 of 2009 which was disposed of by this Court vide judgment and order dated 9.5.2009 with the direction to the Petitioner to file objection which was to be decided by the Bank.
It appears that the Petitioner had also filed an application u/s 17 of the Act before the Tribunal, which has been registered as SA No. 5 of 2010. The matter is still pending. In the meantime, fresh notices have been published. It has been stated by Sri Vivek Kumar Singh that 26.9.2011 is the date fixed before the Tribunal whereas opening of tender is scheduled on 21.9.2011.
Sri Singh submitted that the Court should stay the opening of tenders till the Tribunal decides the stay application. We are not inclined to stay the opening of the tender scheduled for 21.9.2011 as in our considered opinion steps to recover the outstanding amount has been initiated in the year 2007 and four years have passed since then. Even on the two earlier occasions, the Petitioner''s attempt to get stay of the auction sale from this Court was not successful. However it will be for the Tribunal to consider and pass appropriate orders in accordance with law on the stay application.
We dispose of this writ petition with the direction that the tender shall not be finalized till 26.9.2011.