HON'BLE SRI JUSTICE GHULAM MOHAMMED AND HON'BLE SRI JUSTICE K.G. SHANKAR WRIT PETITION NO. 5789 OF 2011 Between: Sri M. Kondaiah Chowdary S/o Sri Ankupu Naidu ………….Petitioner AND Federal Bank Limited ………….Respondent ORDER: (Per Hon'ble Sri Justice Ghulam Mohammed) This Writ Petition has been filed challenging the sale notice dated 31.1.2011 issued by the respondent- Bank fixing the sale of the property of the petitioner initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 even before adjudication of the file pending before the Debts Recovery Tribunal, Hyderabad. Brief facts of the case are that the petitioner approached the respondent-bank for agricultural term loan and he secured the same by way of hypothecation of vehicles and also by way of equitable mortgage of immovable properties belonging to the petitioner. After that the petitioner herein committed default in payment of loan and the respondent Bank issued possession notice on 27.10.2010. It is stated that the respondent-Bank also has gone ahead with publication of Sale Notice on 31.1.2011 fixing the date of sale on 10.3.201. Aggrieved by the same, he filed an appeal under Section 17 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short “the SRFAESI Act”) but there is no regular Presiding Officer and the in charge Presiding Officer will be conducting the bench only on 11.3.2011. The main grievance of the petitioner is that as there is no regular bench and if the respondent-Bank proceeds with the auction of the property on 10.3.2011 he will suffer grave and irreparable loss. In the circumstances, the respondent-Bank is at liberty to proceed with the auction but however, the sale shall not be confirmed till the orders passed by the Debts Recovery Tribunal in the appeal filed by the petitioner under Section 17 of the SRFAESI Act. The Debts Recovery Tribunal is directed to dispose of the appeal and pass appropriate orders in accordance with law within a period of two weeks from today. Accordingly, the Writ Petition is disposed of. There shall be no order as to costs. ________________________ GHULAM MOHAMMED, J _____________________ K.G. SHANKAR, J DATE: 14.03.2011 KA ... REGISTRAR // TRUE COPY // SECTION OFFICER To 1. 2 CD copies.