Unique Rice Private Ltd. and Another vs State Bank of Patiala and Others

Jasbir Singh, J.—This writ petition has been filed with a prayer to quash proclamation of sale/auction notice dated 3.6.2006. Auction is fixed for today. It is contention of Counsel for the petitioners that in the auction notice, machinery, which is not subject matter of hypothecation, has also been published for sale. Be that as it may, if the property, which was not mortgaged with the Bank, is going to be sold, the petitioners may raise their objection before the competent forum. Otherwise also, it is apparent from the facts of the case that earlier, the petitioner had filed a CWP, which came up for hearing before this Court on 2.6.2006 and the same was dismissed as withdrawn. The Tribunal below, while passing the order, Annexure P/10, had given a very good offer to the petitioners, to deposit some amount, to show their bonafide, so that the auction could be stayed. The same offer was repeated by this Court also but petitioner No. 2 has shown his inability to deposit the amount. This clearly demonstrates that only attempt is to delay the proceedings and nothing else. If the petitioners were sincere in making payment, they would have made a tangible offer to deposit the amount after, selling the property, at the time when notice was issued to them u/s 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. Counsel for the petitioners has failed to show that at an earlier point of time any such offer was made to the authorities concerned. No case is made out for interference. Dismissed.