HON’BLE SRI JUSTICE ASHUTOSH MOHUNTA AND HON’BLE SRI JUSTICE P. DURGA PRASAD W.P. No. 7539 of 2011 DATED: 25.08.2011 Between: M/s.Sri Gowri Agencies .. Petitioner And 1. The Manager, I.C.I.C.I. Bank Ltd. 2. The Authorized Officer, I.C.I.C.I. Bank Ltd. .. Respondents O R D E R :- (Per Hon’ble Sri Justice Ashutosh Mohunta) The main grievance of the writ petitioner is that even though he has issued five cheques for Rs.1,45,00,000/- towards repayment of the agricultural loan taken by him after receipt of demand notice, the 1st respondent issued Auction Notice dated 19.02.2011 proposing to conduct auction of the properties of the petitioner on 23.03.2011 at 11:00 A.M. Hence, the present writ petition is filed seeking appropriate directions. This Court, while admitting the writ petition, granted interim direction that the auction may go on, but the auction proceedings shall not be confirmed. The respondents have filed counter affidavit stating that the petitioner had already challenged the impugned Auction Notice before the Debt Recovery Tribunal, Visakhapatnam in S.A. No. 45 of 2000 along with I.A. No. 106 of 2010 seeking stay of the proceedings initiated under Section 17 of the SARFAESI Act, and the Tribunal granted interim stay of the proceedings subject to the condition that the petitioner shall deposit a sum of Rs.5,00,000/- by 05.03.2010, but the petitioner failed to comply with the conditional order, and hence, stay granted was vacated by the Tribunal, as such, the present writ petition is not maintainable and the same is liable to be dismissed. In view of the averments made by the respondents in the counter affidavit that the petitioner has already availed the remedy of filing an appeal in S.A. No. 45 of 2000 under Section 17 of the SARFAESI Act, and the fact that the same is pending adjudication before the Debts Recovery Tribunal, Visakhapatnam, we are of the opinion that this writ petition is not maintainable, and accordingly, the same is dismissed as being not maintainable. No order as to costs. _____________________ ASHUTOSH MOHUNTA, J 25.08.2011 ___________________ P. DURGA PRASAD, J bcj