APHC010012202026 IN THE HIGH COURT OF ANDHRA PRADESH THURSDAY, TWO THOUSAND AND TWENTY SIX THE HONOURABLE SRI JUSTICE CHEEKATI MANAVENDRANATH ROY THE HONOURABLE SRI WRIT PETITION NO: 924/2026 Between: 1. SREENIDHI STEELS, REPRESENTED BY ITS MANAGING PARTNER PUTLUR LAKSHMIKANTH REDDY S/O P. KULLAY REDDY, HINDU, R/O D.NO. 3-162A PEDDAVADUGUR, VILLA NO.12 1-1273 HIGH WAY ANANTAPURAMU, 1. UNION OF INDIA, MINISTRY OF FINANCE AND COMPANY AFFAIRS (DEPARTMENT OF ECONOMIC AFFAIRS) (BANKING DIVISION), REPRESENTED BY ITS SECRETARY, 3RD FLOOR, JEEVAN BUILDING, SANSADMARG, NEW DELHI 2. RESERVE BANK OF INDIA, REPRESENTED BY ITS SECRETARY, DEPARTMENT OF BANKING REGULATION, OFFICE AT CENTRAL OFFICE, 12THFLOOR, SHAHID BHAGAT SINGH MARG, FORT, MUMBAI, MAHARASHTRA 3. AXIS BANK, HEAD OFFICE BY ITS AUTHORIZED OFFICER REGD, OFFICE AT TRISHUL, 3RD FLOOR. OPPOSITE TO SAMARTHESWAR TEMPLE, NEAR LAW GARDEN, ELLIS BRIDGE, AHMADABAD, GUJARAT PIN 380006 4. AXIS BANKS CORPORATE HEAD OFFICE, KNOWN AS AXIS HOUSE, IS LOCATED AT C IN THE HIGH COURT OF ANDHRA PRADESH AT AMARAVATI (Special Original Jurisdiction) THURSDAY, THE EIGHTH DAY OF JANUARY TWO THOUSAND AND TWENTY SIX PRESENT THE HONOURABLE SRI JUSTICE CHEEKATI MANAVENDRANATH ROY THE HONOURABLE SRI JUSTICE TUHIN KUMAR GEDELA WRIT PETITION NO: 924/2026 SREENIDHI STEELS, REPRESENTED BY ITS MANAGING PARTNER PUTLUR LAKSHMIKANTH REDDY S/O P. KULLAY REDDY, HINDU, 162A PEDDAVADUGUR, NOW RESIDING AT 1273-A-12, OPPOSITE TO TATA MOTO HIGH WAY ANANTAPURAMU, ANANTAPURAMU DISTRICT. ...PETITIONER AND UNION OF INDIA, MINISTRY OF FINANCE AND COMPANY AFFAIRS (DEPARTMENT OF ECONOMIC AFFAIRS) (BANKING DIVISION), REPRESENTED BY ITS SECRETARY, 3RD FLOOR, JEEVAN BUILDING, SANSADMARG, NEW DELHI-110001 RESERVE BANK OF INDIA, REPRESENTED BY ITS SECRETARY, DEPARTMENT OF BANKING REGULATION, OFFICE AT CENTRAL OFFICE, 12THFLOOR, SHAHID BHAGAT SINGH MARG, FORT, MUMBAI, MAHARASHTRA - 400001. AD OFFICE BY ITS AUTHORIZED OFFICER REGD, OFFICE AT TRISHUL, 3RD FLOOR. OPPOSITE TO SAMARTHESWAR TEMPLE, NEAR LAW GARDEN, ELLIS BRIDGE, AHMADABAD, GUJARAT PIN 380006 AXIS BANKS CORPORATE HEAD OFFICE, KNOWN AS AXIS HOUSE, IS LOCATED AT C-2 PANDURANG BUDHKAR MARG, IN THE HIGH COURT OF ANDHRA PRADESH [3558] THE EIGHTH DAY OF JANUARY THE HONOURABLE SRI JUSTICE CHEEKATI MANAVENDRANATH ROY JUSTICE TUHIN KUMAR GEDELA SREENIDHI STEELS, REPRESENTED BY ITS MANAGING PARTNER PUTLUR LAKSHMIKANTH REDDY S/O P. KULLAY REDDY, HINDU, NOW RESIDING AT D.NO SITE TO TATA MOTORS NEAR ANANTAPURAMU DISTRICT. ...PETITIONER UNION OF INDIA, MINISTRY OF FINANCE AND COMPANY AFFAIRS (DEPARTMENT OF ECONOMIC AFFAIRS) (BANKING DIVISION), REPRESENTED BY ITS SECRETARY, 3RD FLOOR, JEEVAN DEEP RESERVE BANK OF INDIA, REPRESENTED BY ITS SECRETARY, DEPARTMENT OF BANKING REGULATION, OFFICE AT CENTRAL OFFICE, 12THFLOOR, SHAHID BHAGAT SINGH MARG, FORT, AD OFFICE BY ITS AUTHORIZED OFFICER REGD, OFFICE AT TRISHUL, 3RD FLOOR. OPPOSITE TO SAMARTHESWAR TEMPLE, NEAR LAW GARDEN, ELLIS BRIDGE, AXIS BANKS CORPORATE HEAD OFFICE, KNOWN AS AXIS UDHKAR MARG, 2 CMR,J & GTK,J W.P.No.924 of 2026 WORLI, MUMBAI - 400025 5. AXIS BANK LTD, 3RD FLOOR, GIGAPLEX, NPC - 1, TTC INDUSTRIAL AREA, MUGALSAN ROAD, AIROLI, NAVI MUMBAI -400 708. 6. AXIS BANK BY BRANCH MANAGER, MAIN BRANCH, NEAR SAPTHAGIRI CIRCLE AXIS BANK LTD, ANANTAPURAMU DISTRICT PIN-515001. 7. AXIS BANK LTD, AREA CREDIT OFFICER ERRIP. CODE. 511584, ADDRESS 40/581 S.V COMPLEX R.S ROAD, KURNOOL DISTRICT, PIN- 518004. 8. AXIS BANK LEGAL MANAGER AND AUTHORIZED OFFICER, SRI VARAGANTI SAI KUMAR, BRANCH OFFICE AT SPSR NELLORE. ...RESPONDENT(S): 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 issue a Writ of Mandamus or any other appropriate writ, order or direction, declaring the action of the respondents No.3 to 8 in issuing and publishing the E-auction notice dated 13-12-2025 in Eenadu newspaper and proposing to conduct auction on 13-01-2026 without disclosing the registered mortgage dated 01-10-2024 bearing Doc. No.-14902/2024 In favour of the petitioner as illegal, arbitrary, unconstitutional and void, and consequently restrain the respondents from proceeding with the auction of the schedule property without disclosing the petitioner's registered mortgage, and stay all further proceedings pursuant to the impugned E-auction notice published in Eenadu newspaper, and pass IA NO: 1 OF 2026 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 direct the respondents no.3 to 8 bank to stop the e-auction, dated: 13.01.2026 of the property to extent an area of Ac.0.3.33 cents forming part of Plot Nos.222, 223, 224 and 225 bearing Door No.16-01-15 in Survey No.23/1B, situated at Anantapuramu District and pass 3 CMR,J & GTK,J W.P.No.924 of 2026 Counsel for the Petitioner: 1. NALLANI VAMSI KRISHNA Counsel for the Respondent(S): 1. 4 CMR,J & GTK,J W.P.No.924 of 2026 The Court made the following: ORDER: (Per Hon’ble Sri Justice Cheekati Manavendranath Roy) Heard learned counsel for the petitioner. 2. Challenging the E-auction notice dated 13.12.2025 issued by the respondent Nos.3 to 8-Axis Bank for sale of the secured asset for realization of the loan amount from the principal borrower, the instant writ petition has been filed by the petitioner on various grounds alleging that fraud has been played relating to the loan transaction. 3. The petitioner has got an efficacious remedy of approaching the Debts Recovery Tribunal, which is an appropriate forum constituted under the Act with special mechanism to deal with such matters and for redressal of grievances relating to the said transaction. But, without approaching the Tribunal, the petitioner has approached this Court, invoking its extraordinary jurisdiction under Article 226 of Constitution of India. The Apex Court has time and again deprecated the practice of the High Court entertaining the writ petitions without relegating the parties to the Tribunal, which is constituted under the Act with special mechanism for redressal of such grievances. 4. Therefore, in the said facts and circumstances, we are not inclined to interfere in the matter and to entertain the writ petition. 5. Learned counsel for the petitioner vehemently contended that a great deal of fraud has been played and as such this Court can entertain the writ petition. 6. We are unable to accede to the said contention. When fraud is played, it is a disputed question of fact which requires evidence to establish the same. Therefore, the matter has to be dealt with by the Tribunal, where the evidence is to be adduced during the course of trial of the matter before the Tribunal. 5 CMR,J & GTK,J W.P.No.924 of 2026 7. Therefore, the Writ Petition is disposed of with a direction to the petitioner to approach the Debts Recovery Tribunal concerned for redressal of its grievance. There shall be no order as to costs. As a sequel, Interlocutory Applications pending, if any, shall stand closed. ________________________________________ JUSTICE CHEEKATI MANAVENDRANATH ROY _____________________________ JUSTICE TUHIN KUMAR GEDELA Date: 08.01.2026 MDP