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Madras High Court

M/S. Hybro Chains (P) Ltd vs The Recovery Officer on 18 June, 2018

Bench: S.Manikumar, Subramonium Prasad

        

 
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED:  18/6/2018
C O R A M
THE HON'BLE MR.JUSTICE  S.MANIKUMAR
AND
THE HON'BLE MR.JUSTICE  SUBRAMONIUM PRASAD

Writ Petition No.12679 of 2018

M/s. Hybro Chains (P) Ltd
rep. By its Director 
S.A.J.Kamal Batcha
No.19 Kothari Road
Nungambakkam
Chennai 600 034.				...		Petitioner 


Vs

1.  The Recovery Officer
     Debts Recovery Tribunal  I
     6th Floor, Speencer Towers
     No.770 A,  Anna Salai
     Chennai 600 002.

2.  M/s. Indian Bank
     Assets Recovery Management Branch
     No.55 Ethiraj Salai
     Chennai 600 008.			...		Respondents

	Writ Petition filed under Article 226 of the Constitution of India, praying for issuance of a Writ of certiorari pertaining to the E-auction sale notice of the first respondent in D.R.C.No.305 of 2016 dated 7/4/2018 and quash the same.
		For petitioner   	...	 Mr.K.Rajasekar
						 for 
						 Mr.C.K.M.Appaji

		For respondents	...	Mr.M.Saranya
						for Mr.M.Sridhar
						for R.2.
- - - - - 
 O R D E R

(Order of the Court was made by S.MANIKUMAR, J) Sale notice, dated 7/4/2018, impugned in this writ petition is as follows:-

E-AUCTION SALE NOTICE The under mentioned properties will be sold by public e-auction on 18/5/2018 for recovery of a sum of Rs.5,59,90,387.92 (Rupees Five Crores fifty nine lakhs ninety thousand three hundred eighty seven and paise ninety two only), the dues as on 31/1/2018 from M/s. Hybro Chains P Ltd., and 3 others together with future interest from 1/2/2018 in terms of Recovery Certificate No.305/2016 dated 24/11/2016 till the date of realisation and the costs, charges and expenses of the proceedings for the recovery thereof.

DESCRIPTION OF THE PROPERTY All that piece and parcel of lands situated at No.17 A at Sipcot Industrial Estate Ranipet admeasuring approx 10.45 acres comprising in Survey No.65, Vanapadi Village, Walaja Taluk, Vellore District 632 403 bounded on the North by : Plot No.16 A & B and 40 feet wide cross road South by : Plot No.17 B East by : Plot No.14 part of Plot No.13 and 30 feet wide road West by : Plot No.21.

lying within the Registration District of Walajah.

Reserve Price 		...	Rs.9,45,00,000/- (Rupees Nine Crores 					forty five lakhs only)

Earnest Money Deposit	...	Rs.94,50,000/- (Rupees Ninety Four 						lakhs Fifty thousand only)

Bid Multiplier 		...	Rs.50,000/- (Rupees Fifty thousand 						only)

Inspection of properties	...	On 16/4/2018, 24/4/2018 between 						11.00 a.m and 3.00 p.m.


EMD Remittance		...	From 17/4/2018 to 14/5/2018 						through EFT/NEFT/RTGS Transfer 						in favour of Recovery Officer, 						DRT  1, Chennai, DRC 								No.305/2016 to the credit of 
					A/c.No.422159631.
					A/c. Name:  Indian Bank, 
					Ethiraj Salai, DRT e-auction 							Indian Bank, Ethiraj Salai, 							Chennai.
					IFSC No.IDIB000C032.


Submission of online bids 	
  on line auction sale	...	From 17//4/2018 to 14/5/2018
					On 18/5/2018 from 11.00 hours						to 12.00 hours with auto time 
					extension of 3 minutes each, till sale is 					concluded.

Sale will be by bidding through online. Bidders are advised to carefully go through all the terms and conditions of sale given in the auction sale catalogue before submitting their bids.

For terms and conditions of sale, please visit https://drt.auctiontiger.net of the online service provider. Also may be viewed in the portal of www.tenders.gov.in/innerpage/asp?choicestal. A copy of the terms and conditions of online sale is also displayed in the notice board of this Tribunal.

E offers/bids submitted online through the portal of https://drt.auctiontiger.net alone will be eligible for consideration.

For pre-auction training/mock or demo auction and for other technical information, please contact, the online service provider M/s.e-Procurement Technologies Ltd., at 15/7 Vel Amrutha Tower, Nallanna Mudali Street, Royapettah, Chennai 600 014, contact person: Ms. Mercy Sagar/Mr.Pravee/Mr.Bharathi John-09722778828/08939000594, 9382276688, 079  4023, 0816/0821/0823/0824/0825/0826/0825/0827 or through e-mail [email protected] For other general information and details, please contact  Recovery Officer, DRT  I, Chennai, 6th Floor, Spencer Towers (now Dewa Towers), 770-A Anna Salai, Chennai 600 002 (Phone 044-28490496; e-mail [email protected] or the Chief Manager, Indian Bank, ARM Branch, 55 Ethiraj Salai, Egmore, Chennai 600 008 (Phone 044  28250202/28233088).

2. On 17/5/2015, a Hon'ble Division Bench of this Court, has passed the following order:-

Upon notice, M. Sridhar, learned counsel appears for the Bank and he would submit that though E-Auction notice was published with the last date for receipt of bids as 14/5/2018, the Bank has not received any bid for the said sale. Hence, the sale that is to take place tomorrow (18.5.2018) may not fructify. Therefore, he seeks time for filing a detailed counter.

2. Post on 14.6.2018 for counter.

3. On this day, when the matter came up for further hearing, Ms.M.Saranya, learned counsel for the second respondent submitted that sale fixed on 18/5/2018, did not take place.

4. In view of the submission made by the second respondent, prayer made in the writ petition has become infructuous and accordingly, writ petition is dismissed as infructuous. No costs. Consequently, the connected Miscellaneous Petitions are closed.

(S.M.K.,J) (S.P.,J) 18th June 2018 mvs.

Index : Yes/No Internet : Yes/No S.MANIKUMAR,J A N D SUBRAMONIUM PRASAD,J mvs.

To

1. The Recovery Officer Debts Recovery Tribunal  I 6th Floor, Speencer Towers No.770 A, Anna Salai Chennai 600 002.

2. M/s. Indian Bank Assets Recovery Management Branch No.55 Ethiraj Salai Chennai 600 008.

18/6/2018