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Judgment
Satya Poot Mehrotra and Rajesh Chandra, JJ.—The petitioner has filed the present writ petition, inter alia, praying for quashing the Auction-Sale Notice (Annexure-6 to the writ petition) issued for auction of the secured assets in the proceedings being taken under the Securitization and Reconstruction of Financial Assets Enforcement of Security Interest Act, 2002 (in short "Securitization Act").
The petitioner on an earlier occasion had filed a writ petition being Civil Misc. Writ Petition No. 54383 of 2010 impugning the said proceedings being taken against the petitioner under Securitization Act.
This Court by the order dated 7.9.2001 disposed of the writ petition giving various directions laying down the scheme for re-payment of the amount due from the petitioner.
The petitioner failed to comply with the directions laid down in the said order. Consequently, the respondent Nos. 1 and 2-Allahabad Bank have revived the proceedings under the Securitization Act, and the aforesaid Auction Notice has been issued to the petitioner.
We have heard Sri Shesh Kumar, learned counsel for the petitioner and Sri P. N. Tripathi, learned counsel for the respondent Nos. 1 and 2.
Sri P. N. Tripathi. learned counsel for the respondent Nos. 1 and 2 brings it to the notice of the Court that the petitioner has filed an appeal/application under Securitization Act before the Debt Recovery Tribunal.
Sri Shesh Kumar, learned counsel for the petitioner has not disputed that the petitioner had already approached the Debt Recovery Tribunal by filing an appeal/ application under the Securitization Act.
We may mention here that filing of an appeal/application u/s 17 of the Securitization Act has not been mentioned in the writ petition.
In view of the fact that the petitioner has availed of an alternative remedy available to him under Securitization Act as also the fact that the present writ petition filed by the petitioner Is second writ petition in regard to same cause of action, we are not inclined to exercise our writ Jurisdiction under Article 226 of the Constitution of India.
The writ petition filed by the petitioner is liable to be dismissed, and the same is accordingly dismissed on the said ground.