- (1.) Heard counsel for the parties.
(2.) Original prayer in both the writ petitions relating to challenge to the e -auction notice dated 05.03.2016 published in the daily newspaper Times of India and Prabhat Khabar by the respondent Bank in respect of the landed properties of the petitioners taken as collateral security by the Bank for sanction of certain loans to Shivam Educational Society, have been rendered infructuous as the said notices were withdrawn during pendency of the writ application as also informed by the learned counsel for the respondent Bank on 21.04.2016. However, Interlocutory applications have been filed being I.A. No. 3493/2016 and 3494/2016 in both the writ petitions seeking to challenge the e -auction sale notice dated 03.06.2016 published in the Daily Newspaper Times of India and Prabhat Khabar for the sale of same mortgaged assets of the petitioners taken as collateral security by the respondent Bank.
(3.) The relevant facts taken note of from the submissions of the counsel for the parties are as follows: The borrower Shivam Educational Society was granted a term loan of Rs. 600 lakhs for establishment of Secondary Education School up to 10th Standard at Rikhia, Deoghar on 09.09.2011 with the terms and conditions stipulated therein. Counsel for the parties had placed reliance on the documents at Annexure -1 i.e. sanction letter where the description of Primary Security, Collateral Security, names of Guarantor and repayment mode have been prescribed. Collateral securities of the two petitioners which are being put forth for e -auction are as follows: "Collateral Securities: Equitable mortgage of Madhumala International Hotel Complex at R.R. Buxi Road. Deoghar. G+5 well furnished hotel, constructed on the piece of land vide Sale Deed No. 1817 and 1325, area : 3295 sft., plot nos. 216, 241 to 245, present plot no. 396, sub plot no. 13, 14, 15, 16, ward no. 11 (old), 9 (new), present no. 22 holding no. 304 and 305, Mouza; Shyamgunj (ii) First charge on entire 8.89 decimals residential land at Deepatoli, Ranchi on Khata No. 157, plot no. 714, sub plot no. 714/A/31. Khewat no. 1, holding no. 2231, ward no. 7/6, area: 8.89 decimals. Sale Deed no. 2296 name: Niranjan Kr. Sinha Respondent Bank had also granted further loan of Rs. 2.00 crores by letter dated 03.01.2013 (Annexure -2) where also, the collateral securities were re - affirmed by the Guarantor / Mortgagor. The Respondent bank issued notices under section 13(2) of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, (in short 'SARFAESI Act', 2002) to the borrower on 25.05.2015. This was objected to by the borrower, upon which, a reasoned order was also passed. Provisions of section 13(4) of SARFAESI Act, 2002 were invoked on 13.08.2015 which were the subject matter of challenge in SARFAESI Appeal No. 68/2015 by the borrower. In the meantime, symbolic possession of the property have been taken. The SARFAESI Appeal was disposed of on 04.02.2016 (Annexure -5) during pendency of which, an earlier e -auction notice was sought to be challenged therein. The learned Debt Recovery Tribunal gave liberty to the Bank to comply with the provisions of the Act and Rules, if required, for taking steps for fresh auction of the property after 30 days notice to the borrower. Thereafter, the second notice dated 05.03.2016, impugned originally in the present writ petitions, was issued and could not be acted upon by the Bank. The present notices dated 03.06.2016 are sought to be impugned in these two writ petitions in the aforesaid background. ;