APHC010320042025 IN THE HIGH COURT OF ANDHRA PRADESH AT AMARAVATI (Special Original Jurisdiction) 0E0 0^ THURSDAY,THE THIRD DAY OF JULY TWO THOUSAND AND TWENTY FIVE PRESENT HON’BLE SRI JUSTICE DHIRAJ SINGH THAKUR, THE CHIEF JUSTICE AND HON’BLE SRI JUSTICE R RAGHUNANDAN RAO WRIT PETITION NO: 16199 OF 2025 Between: Neiluri Vamsi Krishna, S/o Venkata Narayana, Aged 51 years, Occ Bussiness, R/o. D.No, 26-2-119, Fiat No. 1, Sri Krishna, Apartments. Asok Nagar, Chandramouli Nagar, Guntur. ...Petitioner AND 1. The IKF Finance Limited rep by its Authorised Officer. @ 40-1-144, Corporate Centre. M.G.Road.Vijayawada, 2. M/s Karthikeya World, rep by its Managing Partner Sri Leila Vami Reddy, Aged about 50 years, occ; Business, D.No. 6-13-2713/1, Lane- 3, Arundel pet, Guntur. 3. Mr Alla Ratna Reddy, S/o Venkateswara Reddy occ; Business. 6-13-27. 13/1 Lane, Arundalpet. Guntur. 4. Makkena Atchaiah, S/o Lakshmaiah, Business, R/o 5-6-23, Sri Sri Road. Guntur District. 5. The Presiding Officer, Debt Recovery Tribunal, Visahkapatnam. Aged about 50 years. Aged about 50 years, occ; Nagarjuna Nagar. Sattenapalli, ...Respondents Petition under Article 226 of the Constitution of India praying that in the circumstances stated in the affidavit filed therewith, the High Court may be pleased to pass an order or direction or writ in the nature of Mandamus duly declaring the inaction of the Debt Recovery Tribunal, Visakhapatnam adjudicating the lA No. 2182 of 2025 in SA No. 310 of 2025 in respect of orders of the Chief Judicial Magistrate in CrI MR No. 352 of 2025 dated in 30.05.2025, as illegal arbitrary and against the principles of natural justice and consequently. direct the Honourable Debt Recovery Tribunal at Visakhapatnam to decide the above Interlocutory Application No. 2182 of 2025 in SA No. 310 of 2025 within a specified time in the interest of justice. lA NO: 1 OF 2025 Petition under Section 151 CPC praying that in the circumstances stated in the affidavit filed in support of the petition, the High Court may be pleased to stay all further proceedings by virtue of orders passed by Honourable Chief Judicial Magistrate in CrI MR No. 352 of 2025 dated 30.05.2025, until the Honourable Debt Recovery Tribunal at Visakhapatnam decide the above Interlocutory Application No. 2182 of 2025 in SANo. 310 of 2025 in the interest of justice. Counsel for the Petitioner: SRI P RAMA SHARANA SHARMA Counsel for the Respondents: SRI B M KRISHNA The Court made the following order: APHC010320042025 IN THE HIGH COURT OF ANDHRA PRADESH Sr.No:-7 [3446] AT AMARAVATI WRIT PETITION NO: 16199 of 2025 Nelluri Vamsi Krishna ...Petitioner Vs. The IKF Finance Limited and others ...Respondents ********** Advocate for Petitioner Mr. P. Rama Sharana Sharma Advocate for Respondents CORAM :THE CHIEF JUSTICE DHIRAJ SINGH THAKUR SRI JUSTICE R RAGHUNANDAN RAO DATE : 3rd July 2025 PC : The petitioner claims that he entered into an Agreement of Sale with respondent Nos.2 & 3 in regard to the property in question on 01.01.2018. It is urged that at the time of execution of the Agreement of Sale, possession was handed over to the petitioner. It is stated that respondent Nos.2 & 3 obtained a loan and executed a mortgage in favour of the financial institution in regard to the ^aid property. Failure on the part of respondent Nos.2 & 3 to liquidate the loan had resulted in the proceedings under the SARFAESI Act, 2002. 2. The petitioner alleges that the respondent Nos.2 & 3 had fraudulently mortgaged the property and that the financial institution had verified the physical possession before taking the property for mortgage, it i not IS 2 HCJ & RRRJ W P No.16199 of 2025 Stated that a Securitisation Application bearing No.310 of 2025 was preferred before the Debts Recovery Tribunal by the petitioner along with an application for interim relief which has not been decided till now. It is prayed that pending the disposal of the main writ petition, the possession of the petitioner be maintained. 3. It is not denied that the property in question was mortgaged in the year, 2019, and the agreement of sale on which the petitioner places reliance is stated to have been executed on 01.01.2018, wherein the petitioner claims that an amount of Rs.20 Lakhs is paid to the private respondent Nos.2 & 3. There are no details reflected in the petition to prove that such an amount was actually paid. An Agreement of Sale by itself does not in any manner transfer title to the petitioner. 4. Although a Civil Suit for specific performance vide O.S.No.28 of 2024 is stated to have been filed in the Court of the Principal Senior Civil Judge, Sattenapalli, which is still pending, no interlocutory orders are stated to have been passed in the same. There was, thus, no impediment for the financial institution to proceed further in the matter. Whether or not the Agreement of Sale is a genuine document or created only for the purposes of somehow delaying the proceedings under the SARFAESI Act, 2002, initiated by respondent No.1 is required to be gone into by the Debts Recovery Tribunal, which is seized into the matter. 5. 3 HCJ & RRRJ W.P.No.16199 of 2025 6. Although learned counsel for the petitioner states that, in similar cases, we have intervened to protect the interest of the petitioners/principal borrowers pending the decision in their Interlocutory Applications filed before the D.R.T., learned counsel for the petitioner has not brought to our notice any case which factually is on par with that of the facts involved in the present petition where the party was claiming protection only on the basis of Agreement of Sale. 7. Be that as it may, we do not find any merit in the present petition which is, accordingly, dismissed. No costs. Consequently, connected miscellaneous applications, if any, shall stand closed. Sd/- U. SRSDEVi ASSISTANT REGISTRAR //TRUE COPY// SECTION OFFICER To, 1. One CC to Sri. P Rama Sharana Sharma Advocate [OPUC] 2. One CC to Sri. B M Krishna Advocate [OPUC] 3. Two CD Copies GSC h h HIGH COURT DATED:03/07/2025 ORDER WP NO. 16199 OF 2025 DISMISSING THE WP WITHOUT COSTS