Abhilash vs Union Bank Of India And 2 Others
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Allahabad High Court

Abhilash vs Union Bank Of India And 2 Others on 2 May, 2024

Author: Manoj Kumar Gupta

Bench: Manoj Kumar Gupta

HIGH COURT OF JUDICATURE AT ALLAHABAD
 
 


?Neutral Citation No. - 2024:AHC:78785-DB
 
Court No. - 21
 

 
Case :- WRIT - C No. - 14186 of 2024
 

 
Petitioner :- Abhilash
 
Respondent :- Union Bank Of India And 2 Others
 
Counsel for Petitioner :- Manu Sharma
 
Counsel for Respondent :- Ashish Agrawal
 

 
Hon'ble Manoj Kumar Gupta,J.
 

Hon'ble Kshitij Shailendra,J.

1. The petitioner has challenged notice dated 27.03.2024 issued by the respondent-bank informing the petitioner of the e-auction fixed for auction of the security interest in order to liquidate its dues outstanding against the petitioner.

2. Sri Ravindra Kumar Srivastava, learned counsel for the respondent-bank, states that the security interest has already been sold and a sale certificate was issued in favour of the auction purchaser on 20.04.2024. A copy thereof has also been placed on record for our perusal.

3. Counsel for the petitioner submits that the petitioner may be permitted to deposit the outstanding amount in installments.

4. However, we find no good ground to accept the prayer, inasmuch as the security interest has already been sold. The option to redeem the mortgage no more survives in view of the judgment of Supreme Court in the case of CELIR LLP Vs. Bafna Motors (Mumbai) Pvt. Ltd. and others: AIR 2023 SC 4568.

5. Consequently, the petition is dismissed with liberty to the petitioner to challenge the auction, if so advised, in independent proceedings.

Order Date :- 2.5.2024

AKShukla/-

(Kshitij Shailendra, J.) (Manoj Kumar Gupta, J.)