NDLI: G. Vikram Kumar Vs. State Bank of Hyderabad & Ors.

Content Provider	Supreme Court of India
e-ISSN	30484839
Language	English
Access Restriction	NDLI
Subject Keyword	Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act 17 2002 : ss. 13
Content Type	Text
Resource Type	Law Judgement
Jurisdiction	India
Act(s) Referred	Constitution of India Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002)
Case(s) Referred	Referred Case 0 Referred Case 1
Case Type	Appeal
Court	Supreme Court of India
Disposal Nature	Appeal Allowed
Headnote	Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 : ss. 13, 17 – Enforcement of security interest – Application against measures to recover secured debts – On facts, initiation of proceedings u/s. 13 by the Bank against the borrower and attachment of the properties of the borrower – Tribunal allowed the Bank to go ahead with the sale excluding seven flats identified by the borrower – However, Flat No.6401 was not amongst the said seven flats – Borrower entered into an agreement to sale of Flat No.6401 with the respondent no. 1 without informing tribunal and the Bank – Thereafter, properties of borrower including Flat no. 6401 subjected to e-auction by Bank – Borrower sought stay on all proceedings of Bank, however, the tribunal rejected the same – E-auction conducted by the Bank – Appellant declared successful bidder with respect to Flat No.6401 and paid 25% of the bid amount – Writ petition by the respondent no. 1 challenging the e-auction notice as regards flat No. 6401, after the auction was conducted – High Court stayed the auction qua Flat No. 6401 subject to respondent no. 1 paying the required amount to the Bank – Appellant then sought setting aside of sale in favour of respondent no. 1, however, the High Court allowed the writ petition in favour of respondent no.1 – Review application there against dismissed – On appeal, held: Against any steps taken by the Bank u/s.13(4), the aggrieved party has a remedy under the SARFAESI Act by way of appeal u/s. 17 to approach the DRT – In view of the availability of the alternative statutory remedy available by way of proceedings/appeal u/s. 17, the High Court erred in entertaining the writ petition u/Art. 226 in which the e-auction notice was under challenge – Moreover, the transaction in favour of the respondent no. 1 with respect to Flat no.6401 was already held to be void by the DRT – If the respondent no. 1 would have approached the DRT against the e–auction notice he would have been non-suited in view of the earlier order passed by the DRT – Therefore, calculatively the respondent no. 1 filed the writ petition before the High Court challenging the e-auction notice and that too after conducting of the e-auction and the sale in favour of the appellant was confirmed – Respondent no. 1 and/or his heirs cannot be permitted to get the benefit of his own wrong and cannot be permitted to get the benefit of a void transaction – Thus, the impugned judgment and order passed by the High Court is unsustainable – Constitution of India – Art. 226.
Judge	Hon'ble Mr. Justice M.R. Shah
Neutral Citation	2023 INSC 475
Petitioner	G. Vikram Kumar
Respondent	State Bank Of Hyderabad & Ors.
SCR	[2023] 5 S.C.R. 624
Judgement Date	2023-05-02
Case Number	3152- 3153

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G. Vikram Kumar Vs. State Bank of Hyderabad & Ors.

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